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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting T June 22, 2007 <br />6. NEW BUSINESS (CONY.) <br />B. Northeast Neighborhood Development Area <br />(4) Staff report on acquisition of property In <br />the Northeast Neighborhood Development <br />Area. (Counter offer from AAYS) <br />Mr. Sehalhol noted that the S arpes had their <br />n appraisal done. Taking that appraisal <br />and other neighborhood factors into <br />consideration they have submitted a counter <br />offer through their attorney, John Peddycord, <br />in the amount of $750,000. The counter <br />offer has been reviewed by several parties. <br />Staff recommends accepting the counter <br />offer. <br />Mr. King made a motion that the counter <br />offer frorn Sharpe Real Estate Company LLC <br />in the amount of $780,000 for seven parcels <br />known as Aay's Rent -All (1 129 South Bend <br />Avenue) and eve adjacent vacant lots be <br />accepted. Mr. Downes seconded the motion. <br />The vote was four to one with Mr. <br />Peczkowski opposed. The motion carried. <br />C. South Bend Central Development Area <br />(1) Commission approval requested for <br />Contract for Sale of Land with Jerid <br />Enterprises LLC in the South Bead <br />Ventral Development Area. (81'7 and 903 <br />E. Sample St., former Art Mosaic <br />property) <br />Mr. Schalliol noted that at its June 8 meeting <br />the Commission approved the sale of the Art <br />Mosaic File property to .Tend Enterprises. <br />The Contract for Sale reflects all the terms <br />already agreed to by both parties and is <br />signed by Jerid Enterprises. <br />I1 <br />COMMISSION ACCEPTED THE COUNTER OFFER <br />FROM SHARPE READ. ESTATE COMPANY LLC IN <br />THE AMOUNT OF $7801000 FOR SEVEN PARCELS <br />KNOWN As AAY' S RENT-ALL (1129 SOUTH <br />BEND AVENUE AND FIVE ADJACENT VACANT <br />LOTS <br />