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Redevelopment Commission Meeting <br />ILRegular Meeting — June 18, 2004 <br />6. NEW BUSINESS (CONT.) <br />D. South Bend Central Development Area <br />(2) continued... <br />development strategy on the River's East Bank <br />and East Race area. <br />Ms. Greene noted that acquisition of property <br />is governed by I.C. 36- 7- 14 -19. This section <br />of the Code requires that the Commission's <br />offering price must be based upon the average <br />of two independent appraisals. However, I.C. <br />36- 7- 14 -19(b) authorizes the Commission to <br />exceed that price if it specifically authorizes <br />such deviation. <br />Upon a motion by Mr. Hunt, seconded by Mr. <br />Kahn and unanimously carried, the <br />Commission approved the counter offer from <br />Thomas Brademas, Jr. for acquisition of the <br />Rink Riverside Building in the amount of <br />$437,500. <br />(3) Commission approval requested for <br />proposal for Mechanical Systems <br />Evaluation in the South Bend Central <br />Development Area. (Hotel LaSalle heating <br />system) <br />Mr. Mathia noted that last winter the heating <br />system for the Hotel La Salle failed. The <br />system is old and repairs were made to it in <br />haphazard fashion by a previous owner who s- <br />old the Hotel to Downtown South Bend, Inc. <br />Repairs need to be made to the system prior to <br />the next heating season. However, at this time <br />it is uncertain exactly what repairs should be <br />made and what the cost would be. In order to <br />make those decisions an evaluation of the <br />heating system is necessary. Staff contacted <br />10 <br />COMMISSION APPROVED THE COUNTER OFFER <br />FROM THOMAS BRADEMAS, JR. FOR <br />ACQUISITION OF THE RINK RIVERSIDE BUILDING <br />IN THE AMOUNT OF $437,500 <br />