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South Bend Redevelopment Commission <br />Regular Meeting — February 4, 2005 <br />6. NEW BUSINESS (CONT.) <br />C. Sample -Ewing Development Area <br />(2) continued... <br />Mr. Hunt asked if the Commission would <br />now put the property back on the market. <br />Mr. Laurent replied that was correct. <br />Upon a motion by Mr. Downes, seconded by <br />COMMISSION AUTHORIZED LEGAL COUNSEL TO <br />Mr. Hunt and unanimously carried, the <br />DRAFT A LETTER TO HOLLADAY PROPERTIES <br />Commission authorized legal counsel to draft <br />STATING THE COMMISSION'S ACCEPTANCE OF <br />a letter to Holladay Properties stating the <br />THE TERMS OF THEIR JANUARY 25, 2005 LETTER <br />WHICH WOULD DISCONTINUE THE DEVELOPMENT <br />Commission's acceptance of the terms of <br />PROCESS FOR OLIVER LOT #1 AND RETURN <br />their January 25, 2005 letter which would <br />HOLLADAY'S PERFORMANCE GUARANTEE OF <br />discontinue the development process for <br />$11,475. <br />Oliver Lot #1 and return Holladay's <br />performance guarantee of $11,475. <br />(3) Commission approval requested for <br />Resolution No. 2137 relating to acquisition <br />of real property in the Sample -Ewing <br />Development. <br />The Studebaker /Oliver Plow Works <br />redevelopment strategy calls for the <br />acquisition and clearance of properties that <br />make up Studebaker Area A. That area is <br />bounded by Sample Street, Franklin Street, <br />the Norfolk Southern Railway and Prairie <br />Avenue. The Commission has previously <br />acquired the former South Bend Stamping <br />plant as the first phase of acquisition in <br />Area A. The next property to be acquired is <br />the seven acre former rail yard located <br />directly south of the Stamping Plant. <br />The property is on the acquisition list for the <br />Sample -Ewing Development Area and was <br />placed there on October 3, 2003. Appraisals <br />14 <br />