6D(18) Authorization to publish notice of intended disposition of property

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. Legal Notice AIRPORT ECONOMIC DEVELOPMENT AREA Prairie Avenue Disposition Parcel 1313 Prairie Avenue South Bend, Indiana Notice is hereby given that the Redevelopment Commission of the City of South Bend, Indiana, will receive sealed offers for the purchase of certain property situated in the Airport Economic Development Area until 10:00 a.m. (EDT) on the 19th day of November 2010 in the Office of the Department of Redevelopment, 1200 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana, 46601. All offers will be publicly opened and read aloud at 10:00 a.m. on the 19th day of November 2010 at the Regular Meeting of the Redevelopment Commission to be held that date and time in Room 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, IN 46601. Bid proposals for the purchase of the property offered will be considered. The property being offered is located 1313 Prairie Avenue in the Airport Economic Development Area, in South Bend, Indiana. Any proposal submitted must be for the entire parcel being offered. The required use for the Parcel is for Light or General Industrial Use or Commercial - Industrial Use in accordance with the "GI" General Industrial District zoning designation. Strong emphasis will be placed during the review process on compatibility with the goals and objectives of Ignition Park. A packet containing bid forms, the offering sheet and other pertinent information may be picked up at the Department of Community and Economic Development, 1200 County -City Building, 227 West Jefferson Boulevard, South Bend, IN 46601. The Commission reserves the right to reject any and all bids, and to make the award to the highest and best bidder. In determining the best bid, the Commission will take into consideration the following: 1. The size and character of the improvements proposed to be made by each bidder on the property 2. Each bidder's ability to improve the property with reasonable promptness 3. Each bidder's proposed purchase price 4. Any factors which will assure the Commission that the sale, if made, will further the carrying out of the Development Plan for the Airport Economic Development Area and will best serve the interest of the community from the standpoint of human and economic welfare 5. The ability of each bidder to finance the proposed improvements to the property with reasonable promptness The Commission further reserves the right to waive any formalities in bidding which are not mandatory requirements. To secure the execution of the disposition agreement, the purchase of the property and the redevelopment thereof in accordance with the agreement, the bidder must submit with the proposal a faithful performance guaranty, in the sum of ten percent (10 %) of the amount offered for the purchase of the property. The guaranty sum may be in the form of a certified check, a cashier's check, or surety bond, letter of credit from a bank or trust company as approved by the Redevelopment Commission, or by other sufficient security, but the form, substance and terms of the performance guaranty must be approved as satisfactory by the Redevelopment Commission. The performance guaranty, if by certified check, shall be deposited in any account of the Department of Redevelopment, City of South Bend, in a bank or trust company selected by the Redevelopment Commission. CITY OF SOUTH BEND, INDIANA DEPARTMENT OF REDEVELOPMENT Donald Inks, Director Publish Dates: October 22 ntl and October 2 9'h. 2010