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South Bend Redevelopment Commission <br />Special Meeting —March 28, 2002 <br />6. NEW BUSINESS (CONT.) <br />F. Sample -Ewing Development Area <br />(4) continued... <br />property. The total price for the <br />L & H Leasing property is $2.4 million. <br />The third property is the Raitt <br />Corporation. The Raitt Corporation has <br />two options: one for the northern parcel <br />of 3.2 acres and one for the southern <br />parcel of 16 acres. The total price for <br />both options is $355,200 (southern <br />parcel $296,000 and northern parcel <br />$59,200). <br />The fourth option is for T & C Leasing, a <br />business located at 1130 South Olive <br />Street. The property consists of 5 '/2 <br />acres and an approximately 16,000 sq ft <br />building. The tenant of this building is <br />scheduled to remain on site until March <br />31, 2003. The purchase price for the <br />property is $560,000. <br />With respect to the remaining three <br />properties, Ms. Greene reported that <br />verbal confirmation was received from <br />AEP that the signed option will be <br />submitted by AEP in approximately two <br />weeks. St. Joseph County and the South <br />Bend School Corporation's property will <br />be conveyed by way of matching <br />resolutions between the respective <br />bodies. Ms. Greene noted that at this <br />point there will be no cost with respect <br />to acquisition of those properties. <br />Ms. Greene advised that the Urban <br />Enterprise Association had negotiated <br />the options with the respective property <br />14 <br />