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South Bend Redevelopment Commission <br /> Regular Meeting—November 8, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Housing <br /> (1) continued... <br /> Improvement Program for property located a <br /> 424 Lamonte Terrace. (Marilyn Sheree <br /> LaPorte). <br /> C. South Bend Central Development Area <br /> (1) Listing Contract with Grubb & <br /> Ellis/Cressy & Everett for the sale of 111 <br /> S. St. Joseph Street (College Football Hall <br /> of Fame). <br /> Ms. Nicholl-Smith noted that staff would like <br /> to hire Grubb & Ellis/Cressy & Everett to <br /> market the College Football Hall of Fame at <br /> 111 S. St. Joseph Street <br /> On March 22, 2011, the Redevelopment <br /> Commission approved the bid specs, fair- <br /> market valuation, and advertising of legal <br /> notices to begin the disposition process for <br /> this property. <br /> At the April 26, 2011, Redevelopment <br /> Commission meeting, staff reported that no <br /> bids had been received on the property and <br /> that as such it would now be able to be sold <br /> at a negotiated price. <br /> The Listing Contract is a standard agreement <br /> wherein sales commission would be 5% if a <br /> tenant or purchaser is found by Cressy & <br /> Everett and 7% if the tenant or purchaser is <br /> represented by another agent. Additionally, <br /> the agent understands a prospective tenant or <br /> buyer may not be able to obtain possession <br /> until after December 31, 2012, unless certain <br /> 8 <br />