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South Bend Redevelopment Commission <br />Regular Meeting -April 21, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. Receipt of Bids <br />() continued... <br />improve the real property with reasonable <br />promptness; (3) Whether the real property <br />when improved will be sold or rented; (4) <br />The bidder's proposed sale or rental prices; <br />(5) The bidder's compliance with the statute; <br />and (6) Any factors that will assure the <br />Commission that the sale or lease, if made, <br />will further the execution of the <br />redevelopment plan and best serve the <br />interest of the community, from the <br />standpoint of both human and economic <br />welfare. <br />Ms. Greene noted that because the bid <br />submitted does not conform to the <br />Commission's bid specifications, the <br />Commission has several options. In <br />accordance with I. C. 3 6-7-14-22(h), :the <br />Commission may simply reject the bid as <br />non-conforming and terminate further <br />discussions with this particular bidder, or the <br />Commission may refer the proposal <br />submitted by the bidder back to staff for <br />continued discussions and negotiations <br />related to sale of the property. However the <br />Commission must wait a period of 30 days <br />after opening the bids before executing any <br />contract for sale of the property at terms <br />other than those specified in the <br />Commission's offering. <br />Mr. Dennis Murphy, Lehman & Lehman, <br />showed a site plan of the property at Ireland <br />and Fellows. Mr. Murphy noted that the <br />reason the proposed purchase price was <br />$1.00 was that the city wants more land in <br />8 <br />