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South Bend Redevelopment Commission <br /> Regular Meeting—March 22, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> B. South Bend Central Development Area <br /> (3) continued... <br /> for 30 days after April 12. After the 30 days <br /> the Commission may enter into a negotiated <br /> agreement for the property. <br /> Mr. Varner asked whether this offering is for <br /> the real estate portion of the property not the <br /> personal property? Mr. Inks replied that, yes, <br /> that is correct. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION AUTHORIZED PUBLICATION OF THE <br /> Mr. Varner and unanimously carried, the NOTICE OF INTENDED DISPOSITION OF <br /> Commission authorized publication of the PROPERTY WITH PUBLICATION DATES OF MARCH <br /> 25 AND APRIL 1,2011 AND RECEIPT OF BIDS AT <br /> Notice of Intended Disposition of Property 10:00 A.M.,APRIL 12,2011.(COLLEGE <br /> with publication dates of March 25 and April FOOTBALL HALL OF FAME) <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 /> 7 <br />