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South Bend Redevelopment Commission <br />Regular Meeting —May 2, 2003 <br />6. NEW BUSINESS <br />C. South Bend Central Development Area <br />(8) continued... <br />factors that will assure the Commission that <br />the sale, if made, will further the execution <br />of the redevelopment plan for the area. In <br />the event that the Commission does choose <br />to reject a bid, then for a period of thirty <br />days after the opening of written offer, there <br />cannot be any sale or lease made at a price <br />less than the offering price. After the <br />thirty-day period the staff may negotiate a <br />price less than the offering price. <br />Upon a motion by Mr. Kahn, seconded by COMMISSION REJECTED THE BID RECEIVED <br />Ms. Jones and unanimously approved, the APRIL 4, 2003 FROM JEFFERSON MAIN <br />Commission rejected the bid received April ASSOCIATES, LLC FOR LOT 260A IN THE SOUTH <br />BEND CENTRAL DEVELOPMENT AREA. <br />4, 2003 from Jefferson Main Associates, <br />LLC for Lot 260A in the South Bend Central <br />Development Area. <br />D. Sample -Ewing Development Area <br />(1) Receipt and opening of bids in connection <br />with property located at 533 S. Chapin <br />Street in the Sample -Ewing Development <br />Area. (Oliver Industrial Park) <br />Mr. Laurent reminded the Commission that <br />the offering was not for any certain parcel, <br />but asked the bidders to outline what <br />property they were interested in. The value <br />of the land depends on its size and whether <br />it fronted on Chapin Street. <br />Mr. Rock noted that two bids were received. <br />One was from Hill Truck Sales Inc. for .96 <br />acres. The bid was complete and included a <br />I+ performance guaranty in the amount of <br />$2,210. <br />17 <br />RECEIPT OF BIDS FOR PROPERTY LOCATED AT <br />533 S. CHAPIN STREET IN THE SAMPLE -EWING <br />DEVELOPMENT AREA (OLIVER INDUSTRIAL <br />PARK) <br />