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South Bend Redevelopment Commission <br />Rescheduled Regular .Meeting . ..... Ju.iae 8, 2007 <br />6. NEW BUSINESS NT. <br />B. Receipt of Bids <br />(2) Receipt of Bids for Enzyme Research <br />Disposition Parcel (412 S. Lafayette Blvd) <br />Mr. Inks noted that one bid was received by <br />the 10:00 a.m. deadline. The bid was from <br />wightinan Petrie. <br />Mr. Leone looked over the hid and found 11 <br />to be non - conforming. It was not actually a <br />bid, but a letter of Interest, asking to <br />negotiate with staff w1th respect to this <br />property. <br />Mr. Inks noted that if no confom -iing bid is <br />received, the receipt of bids remains open for <br />0 days. After 30 days, staff is Free to <br />negotiate terms that the Commission feels is <br />in the best interest of the community. <br />The Commission referred the letter of <br />interest from w ghtman Petrie to staff for <br />review. <br />C. South Bend Central Development Area <br />1 <br />Commission approval requested for <br />Memorandum of Lease with Dhanw .n ri, <br />Inc. (Michigan St. Shops) <br />Mr. Leone Hated that under Indiana law <br />leases of more than three years must be <br />recorded. Sometimes the terms of a lease <br />itself are such that the huge ai ount of detail <br />j.sn't necessary to record as a public <br />document. The purpose of recording a <br />Memorandum of Lease is to put the public on <br />notice that there is a lease whose to <br />COMMISSION REFERRED THE LETTE R OF <br />INTEREST T FROM WIGHTMAN PET IE T STAFF <br />FOR REVIEW <br />