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South Bend Redevelopment Commission <br />Regular Meeting —July 2, 2004 <br />IL 6. NEW BUSINESS (CONT.) <br />E. Sample -Ewing Development Area <br />(1) continued... <br />The developer has submitted $100 for <br />payment of the property. <br />Staff recommends accepting the proposal <br />from James and Sandy McCune and <br />recommends requiring the developer to post <br />a bond based on a percentage of the project <br />cost. <br />Mr. McCune noted that he had purchased a <br />building at 416 W. LaSalle. South Bend <br />Heritage Foundation did not want that type <br />of business in that part of the West <br />Washington- Chapin Development Area and <br />offered to buy the property. He is willing to <br />move the operation to this new location. <br />Ms. Greene noted that disposition of <br />property is governed by I.C. 36- 7- 14 -22. <br />This property has previously been up for bid, <br />so the Commission is allowed to proceed <br />differently than in the normal disposition <br />process. This is property that has a <br />limitation on the proceeds the Commission <br />may receive for the property. In determining <br />whether or not to sell the property the <br />Commission may make an award to the <br />highest and best bidder, if there were <br />competing bids. There are none, so in <br />awarding this the Commission may consider <br />the size and character of the improvements, <br />the bidder's plans and ability to improve the <br />property with reasonable promptness, <br />whether the property will be sold or rented <br />and the proposed sale price, plus any other <br />18 <br />