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South Bend Redevelopment Commission <br />Regular Meeting —April 1, 2005 <br />6. NEW BUSINESS (CONT.) <br />A. Receipt of Bids <br />(1) continued... <br />being outgrown. The full basement is being <br />occupied and has been converted into offices <br />and meeting rooms. Mr. Fox further noted <br />that the population is getting older every day <br />and the segment of that population that is <br />growing at the most rapid rate are those <br />persons eighty -five (85) and older. Thought <br />needs to be given to Real Services' future <br />and the future of our community. <br />The proposed project will consist of a new <br />building located adjacent to the existing <br />building. The new building will have at least <br />two (2) floors and a full basement, running <br />parallel to Michigan Street. Office space will <br />also be added for the administration of all <br />programs. Real Services is in a strong <br />financial position, which is evidenced in the <br />Annual Report included in the bid. Real <br />Services is looking forward to the additional <br />expansion. <br />Mr. Hunt asked if the building will be <br />architecturally compatible with the building <br />built ten (10) years ago. <br />Mr. Fox replied that the building will be <br />compatible. <br />Ms. Greene noted that disposition of property <br />is governed by I.C. 36- 7- 14 -22. Under this <br />section of the Code, the Commission is <br />required to obtain two independent appraisals <br />of the value of the property for sale or lease. <br />The appraisals must take into consideration <br />the size, location and physical condition of <br />c <br />