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South Bend Redevelopment Commission <br />Regular Meeting –December 3, 2010 <br /> <br /> <br />Mr. Inks noted that Resolution No. 2815 sets <br />an acquisition offering price for 122 S. Niles <br />Ave., formerly known as the Troegger Sheet <br />Metal site. It is composed of eight <br />contiguous parcels, across Niles from the <br />Emporium. It has been used as a parking lot. <br />Two independent appraisals were performed. <br />st <br />The average of the two was $404,500. 1 <br />Source has agreed to a purchase price of <br />$400,000. The resolution sets the offering <br />price at $400,000. The property has value to <br />the Commission to facilitate its plans for the <br />East Bank. <br /> <br />CRN.2815 <br />Upon a motion by Ms. King, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />Mr. Downes and unanimously carried, the <br />SBCDA. <br />OUTH END ENTRAL EVELOPMENT REA <br />Commission approved Resolution No. 2815 <br />(122NA.) <br /> ILES VE <br />related to acquisition of property in the South <br />Bend Central Development Area. (122 Niles <br />Ave.) <br /> <br /> <br />(7) Contract for Purchase and Sale of <br />Property (122 Niles Ave.) <br /> <br />Mr. Inks noted that the Contract for Purchase <br />and Sale is contingent on the closing <br />anticipated by the Memorandum of <br />Understanding explained previously. <br /> <br />CC <br />Upon a motion by Ms. King, seconded by <br />OMMISSION APPROVED THE ONTRACT FOR <br />PSP(122N <br />URCHASE AND ALE OF ROPERTY ILES <br />Mr. Downes and unanimously carried, the <br />A.) <br />VE <br />Commission approved the Contract for <br />Purchase and Sale of Property (122 Niles <br />Ave.) <br /> <br /> <br />(5) Resolution No. 2814 determining to apply <br />TIF revenues to the payment of the <br />Redevelopment District Revenue Bonds in <br />the event Professional Sports and <br />Convention Development Area revenues <br />are insufficient. <br /> 17 <br /> <br />