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South Bend Redevelopment Commission <br />Regular Meeting —March 22, 2011 <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Varner and unanimously carried, the <br />Commission authorized publication of the <br />Notice of Intended Disposition of Property <br />with publication dates of March 25 and April <br />1, 2011 and receipt of bids at 10:00 a.m., <br />April 12, 2011. (College Football Hall of <br />Fame). <br />(4) Resolution No. 2856 approving the fair <br />market value of property in the South <br />Bend Central Development Area. (1st <br />Source development parcel, 122 South <br />Niles Avenue) <br />Mr. Sikora noted that 122 South Niles <br />Avenue is the land purchased as part of the <br />agreement with 1St Source late last year. <br />We'd like to put that property up for bid <br />because we have had some interest expressed <br />in developing it. Resolution No. 2856 sets <br />fair market value of the property at $339,500, <br />the average of two independent MAI <br />appraisals. <br />Upon a motion by Ms. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2856 <br />approving the fair market value of property <br />in the South Bend Central Development <br />Area. (1St Source development parcel, 122 <br />South Niles Avenue) <br />(5) Bid Specifications and Design <br />Considerations for disposition of the 1St <br />Source development parcel, 122 South <br />Niles Avenue. <br />Mr. Sikora noted the Proposal Documents <br />include the Bid Specifications and Design <br />Considerations for the reuse of 122 S. Niles. <br />Those specifications include: (1) that bids <br />7 <br />COMMISSION AUTHORIZED PUBLICATION OF THE <br />NOTICE OF INTENDED DISPOSITION OF <br />PROPERTY WITH PUBLICATION DATES OF MARCH <br />25 AND APRIL 1, 2011 AND RECEIPT OF BIDS AT <br />10:00 A.M., APRIL 12, 2011. (COLLEGE <br />FOOTBALL HALL OF FAME) <br />COMMISSION APPROVED RESOLUTION NO. 2856 <br />APPROVING THE FAIR MARKET VALUE OF <br />PROPERTY IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA. (1 ST SOURCE <br />DEVELOPMENT PARCEL, 122 SOUTH NILES <br />AVENUE) <br />