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South Bend Redevelopment Commission <br />Regular Meeting -December 15, 2006 <br />6. NEW BUSINESS (CONT.) <br />D. Sample-Ewing Development Area <br />continue ... <br />S . Walnut to Lock Joint Tube which <br />indemnifies the Commission for any actions <br />they have taken on the property while they <br />have had access to it. There is an <br />environmental incident which is being <br />resolved, so the agreement commits $20,000 <br />from the city to monitor water on the site if <br />monitoring is needed. We will be purchasing <br />the property from Lock Joint Tube without <br />any representation as to its condition. <br />Mr. Peterson has also received a counter <br />offer from the owner of the property next to <br />Lock Joint Tube to trade the right o f way the <br />city wants for the soon-to-be Commission- <br />owned Lock Joint Tube property. He has <br />agreed to accept the property in whatever <br />condition the Commission receives it. That <br />would complete the three-way trade of land. <br />Staff recommends accepting the Contract for <br />Sale of Land with Lock Joint Tube for 1217 <br />S. Walnut. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission approved the Contract for Sale <br />of Land with Lock Joint Tube, subject to <br />receipt of the signed signature page from <br />Lock Joint Tube. (1217 S. Walnut St.) <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Downes and unanimously carried, the <br />Commission approved the letter proposal <br />submitted by Wennsington LLC to purchase <br />the property known as Lock Joint Tube in <br />COMMISSION APPROVED THE CONTRACT FOR <br />SALE OF LAND WITH LOCK JOINT TUBE, SUBJECT <br />TO RECEIPT OF THE SIGNED SIGNATURE PAGE <br />FROM LOCK JOINT TUBE. (121 ~ S. WALNUT ST.) <br />COMMISSION APPROVED THE LETTER SUBMITTED <br />BY WENNSINGTON LLC TO PURCHASE THE <br />PROPERTY KNOWN AS LOCK JOINT TUBE IN <br />EXCHANGE FOR RIGHT OF WAY AND AUTHORIZE <br />COUNSEL TO NEGOTIATE A RECORDABLE FORM <br />OF THIS AGREEMENT AND CONTINUE TO CLOSING <br />ON IT. <br />23 <br />