04-01-05 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Regular Meeting —April 1, 2005 6. NEW BUSINESS (CONT.) A. Receipt of Bids (1) continued... the property and all other factors effecting value. The appraisals are solely for the information of the Commission and are not open for public inspection. The Commission must then prepare an offering sheet showing the properties and the offering price which may not exceed the average of the two appraisals. After publishing notice consistent with the requirements of I.C. 5 -3 -1, the Commission may reject any bids received or may make an award to the highest bidder. In determining the best bid, the Commission must consider the following: (1) The size and character of the improvements proposed to be made by the bidder on the real property bid on; (2) The bidder's plans and ability to improve the real property with reasonable promptness; (3) Whether the real property when improved will be sold or rented; (4) The bidder's proposed sale or rental prices; (5) The bidder's compliance with the statute; and (6) Any factors that will assure the Commission that the sale or lease, if made, will further the execution of the redevelopment plan and best serve the interests of the community, from the standpoint of both human and economic welfare. Upon a motion by Mr. Hunt, seconded by Mr. King and unanimously carried, the Commission referred the bid to staff for a formal report and recommendation, and requested it be considered for approval at the next regularly scheduled Redevelopment Commission meeting of April 15, 2005. c COMMISSION REFERRED THE BID TO STAFF FOR A FORMAL REPORT AND RECOMMENDATION, AND REQUESTED IT BE CONSIDERED FOR APPROVAL AT THE NEXT REGULARLY SCHEDULED REDEVELOPMENT COMMISSION MEETING OF APRIL 15, 2005.