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South Bend Redevelopment Commission <br />Regular Meeting -January 20, 2006 <br />6. NEW BUSINESS (CONT.) <br />E. Sample-Ewing Development Area <br />() continued... <br />there is approximately $38,000 worth of <br />machinery and equipment that will be left <br />behind for the Commission to sell. Staff <br />feels that this is a reasonable counter offer <br />from Mr. Huckins. The acquisition of this <br />property is necessary to complete the goals of <br />the Studebaker/Oliver redevelopment <br />strategy. Staff recommends approval of the <br />counter offer. <br />Mr. King asked the schedule is to wrap up <br />this deal. Mr. Laurent responded that staff <br />should be able to close on the property with <br />Mr. Huckins within 3 0 days. Our next step <br />would be to get Engineering to write <br />demolition specifications. Meanwhile, we'll <br />try to sell the equipment. We have almost <br />wrapped up the financing to have money <br />available to tear down these buildings. This <br />week we received notification from the State <br />Historic Preservation office that we may use <br />federal money to acquire and tear down all <br />the remaining Studebaker buildings in Area <br />A. If we can close on the Huckins property <br />in 30 days, he hopes to complete demolition <br />by the end of the year. <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Downes and unanimously carried, the <br />Commission approved the counter offer in <br />the amount of $105,000 for property in the <br />Sample-Ewing Development Area, with the <br />addition of language assigning additional <br />insurance proceeds to the City of South Bend <br />and Redevelopment Commission. (1 O l 0 <br />Prairie Ave, Huckins Tool & Die) <br />COMMISSION APPROVED THE COUNTER OFFER IN <br />THE AMOUNT OF $1 OS,000 FOR PROPERTY IN THE <br />SAMPLE-SWING DEVELOPMENT AREA, WITH <br />THE ADDITION OF LANGUAGE ASSIGNING <br />ADDITIONAL INSURANCE PROCEEDS TO THE CITY <br />OF SOUTH BEND AND REDEVELOPMENT <br />COMMISSION. (IOIO PRAIRIE AVE, HUCKINS <br />TOOL & DIE) <br />30 <br />