Laserfiche WebLink
South Bend Redevelopment Commission <br /> Regular Meeting—October 25, 2011 <br /> 6. NEW BUSINESS <br /> D. South Bend Central Development Area <br /> (2) continued... <br /> Mr. Sikora noted that on June 28, 2011 the <br /> Redevelopment Commission approved bid <br /> specifications, fair-market valuation, and <br /> advertising of legal notices to begin the <br /> disposition process for five properties in the <br /> Monroe Park neighborhood of the South <br /> Bend Central Development Area. No bids <br /> were received for any of the properties at the <br /> July 26, 2011 meeting. The law states that <br /> after a thirty-day period the properties could <br /> be sold at a negotiated price less than the <br /> Minimum Offering Price. On September 27, <br /> 2011 the Redevelopment Commission <br /> approved a contract with Bruce Gordon to <br /> list and market four of the five properties. <br /> We have now received offers on all five of <br /> the properties. <br /> For 310 E. South Street and 602 Carroll <br /> Street we've received a cash offer of$5,000 <br /> and $10,000, respectively. A neighbor <br /> adjacent to the properties plans to install his <br /> mother in one of the homes and maintain the <br /> other as a rental unit, keeping the current <br /> tenant (an elderly woman renting through <br /> HDC) until such time as she decides to <br /> vacate. Both properties will require <br /> maintenance/repairs of up approximately <br /> $7,500, which is a part of the reason for the <br /> lower bids. The bidder on these properties <br /> has a well-maintained home (no code issues <br /> and taxes are up to date), is active in the <br /> neighborhood association, and has expressed <br /> his desire to purchase these properties in an <br /> effort to maintain the integrity of the <br /> neighborhood. As such, staff recommends <br /> accepting the offers and requests permission <br /> 12 <br />