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14 <br />South Bend Redevelopment Commission <br />Regular Meeting —April 19, 2002 <br />6. NEW BUSINESS (CONT.) <br />H. Rescission and Reconsideration of Items <br />6.D.5. and 6.D.6. <br />6.D.6. continued... <br />Mr. Inks advised that the staff will <br />proceed to close on the purchase of the <br />property at 1:00 p.m. today, as the City <br />has decided to demonstrate good faith <br />while remaining contract issues are <br />clarified. <br />There were no objections and the MEETING RECESSED <br />meeting was recessed at 10:40 a.m. <br />Mr. Hunt reconvened the meeting on MEETING RECONVENED <br />Wednesday, April 24, 2002 at 8:00 a.m. <br />5. A. (1) Commission approval requested for <br />Contract For Sale in the Sample - <br />Ewing Development Area. <br />Mr. Inks reported that the Contract For <br />Sale Of Land for private development is <br />between the City of South Bend, the <br />South Bend Redevelopment <br />Commission, AJW South Bend Realty <br />Corp. and TJX Companies, Inc. It is for <br />the sale of 70.95 acres of property at the <br />southeast corner of Sample and Olive <br />streets. The purchase price is $32,500 <br />per acre; totaling $2,305,875.00. It is a <br />two phase construction project for an <br />800,000 sq ft warehouse and distribution <br />center. An estimated 857 jobs will be <br />created. In a brief overview, Mr. Inks <br />outlined the City's responsibilities as <br />follows: <br />17 <br />