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South Bend Redevelopment Commission <br />IL Regular Meeting — February 7, 2003 <br />6. NEW BUSINESS <br />C. South Bend Central Development Area <br />(continued...) <br />(4) Commission approval requested for <br />proposal for professional services in <br />the South Bend Central <br />Development Area. (Appraisal work, <br />401 E. Monroe, former Key Bank <br />drive -thru) <br />Mr. Mathia reported that staff <br />requested proposals from four (4) MAI <br />certified appraisers for the appraisal of <br />property located at 401 E. Monroe <br />Street (Formerly a Key Bank drive <br />thru). This property was recently <br />acquired by the Commission. The <br />appraisals are needed as part of the <br />disposition process to determine a fair <br />market value of the property. Three (3) <br />proposals were received and are as <br />follows: <br />Jerome Michaels, MAI $2,700 <br />R E Pitts & Associates, Inc. $2,250 <br />Ralph Lauver $3,250 <br />Two (2) proposals are required to <br />establish fair market value and staff <br />recommends accepting the proposals <br />from the two (2) lowest bidders, <br />Jerome Michaels and R. E. Pitts & <br />Associates. <br />Upon a motion by Mr. Kahn, seconded <br />by Mr. Blake and unanimously carried, <br />the Commission approved the request <br />for professional services in the South <br />Bend Central Development Area and <br />22 <br />COMMISSION APPROVED THE REQUEST FOR <br />PROFESSIONAL SERVICES IN THE SOUTH BEND <br />CENTRAL DEVELOPMENT AREA AND <br />AUTHORIZED STAFF TO RETAIN JEROME <br />MICHAELS AND R. E. PITTS & ASSOCIATES <br />BASED ON THE SCOPE OF SERVICES AND FEE <br />