No. 1664 approving the fair re-use value of property in the SBCDA (SW Corner of Michigan & Washington)

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Bid Specifications Part of Parcel C442 Southwest Corner of Washington and Michigan The following are bid specifications that will be included in the public offering of the above parcels. They reflect the Redevelopment Commission's planning and urban design principles for the South Bend Central Development Area. 1. All of the provisions of I.C. 36- 7 -14 -22 will apply to the bidding process. 2. All offers must meet the minimum price of $215,000. 3. This offering is subject to rights of Teachers Credit Union ( "Lessee ") as set forth in the Agreement for Lease With Purchase Option Between Teachers Credit Union and City of South Bend Department of Redevelopment ( "Lessor ") dated October 12, 1984, and the First Amendment to Agreement for Lease Between Teachers Credit Union and City of South Bend Department of Redevelopment dated November 17, 1986 (collectively the Lease). The Lease obligates the Lessor to construct and lease to Teachers Credit Union a 109 space parking garage. The Lessor's net contractural obligation to the Lessee has been valued at not less than $1,000,000.00. These documents are available for review at the offices of the Redevelopment Commission located at 1200 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana 46601. 4. This offering is subject to reservation of a public access and non - buildable easement as shown on the attached survey. 5. This offering is also subject to an easement with Teachers Credit Union for access to its loading dock. 6. Any development must make full use of the site. 7. All provisions of the South Bend Central Development Area Development Plan and Design Guidelines must be met. 8. All provisions of the South Bend Municipal Code must be met. 9. Any development must further the overall development of the block as outlined in the Development Plan. The following are design considerations that will be included in the public offering for the above parcels of land. They reflect the Redevelopment Commission's planning and urban design principles for parcels located in the South Bend Central Development Area. They are not requirements of the bid specifications, but each proposal will be evaluated by the Commission with particular consideration given to how these items are addressed. 1. Zero setback requirement. 2. The architectural design of the development should be sensitive to the height, layout and materials of surrounding structures. 3. No outdoor advertising sign (off - premise sign) shall be located on this parcel and this will be included as a restrictive covenant in the deed. 4. It is the Redevelopment Commission's preference to see the project design incorporate well landscaped areas. H:\WPDATA\ANN\BIDC4-42