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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -June 9, 2006 <br />6. NEW BUSINESS (CONT.) <br />H. South Side Development Area <br />(1) Staff report on disposition of property in <br />the South Side Development Area (ROI <br />Holdings, LLC, 505 E. Ireland Road) <br />Mr. Schalliol noted that at the time the <br />property at 505 E. Ireland Road was put up <br />for bid, there was one bid received, which did <br />not meet the asking price. The proposal <br />submitted by ROI Holdings is for <br />construction of aone-story, multi-tenant <br />building on the northeast corner of Ireland <br />and Fellows. Staff has arrived at a negotiated <br />purchase price of $10,000 for the site which <br />the developer has accepted. <br />Staff intends to immediately apply the <br />$10,000 purchase price into public works <br />infrastructure on adjacent property as part of <br />comprehensive development of the area. <br />Ms. Greene noted that the Commission has <br />met the requirements of I. C. 3 6-7-14-22, <br />having gone through the public disposition <br />process. Now more than 30 days past the <br />receipt of bids, the Commission may proceed <br />with a negotiated sale of the property at an <br />amount other than the original offering price. <br />Mr. King asked about the need for a special <br />zoning exception for the proposed use. Mr. <br />Schalliol responded that the developer <br />believes he has three office tenants for the <br />development which will not require a zoning <br />exception. <br />Upon a motion by Mr. King, seconded by Mr. <br />Downes and unanimously carried, the <br />Commission accepted the staff report related <br />COMMISSION ACCEPTED THE STAFF REPORT <br />RELATED TO DISPOSITION OF SOS E. IRELAND <br />ROAD AND AUTHORIZED ALL NECESSARY LEGAL <br />11 <br />