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A. Property Acquisition <br />ro Although there is no property acquisition identified in this plan, it is <br />anticipated that some property acquisition, could occur in the future. <br />When this occurs, the South Bend Department of Redevelopment Commission will <br />either: <br />1. Demolish the structure or structures thereon, if any, and dispose of the <br />land for redevelopment at its fair market value, excepting those cases when land is <br />sold or leased to another public body for uses in accordance with the Development <br />Plan; or <br />c <br />2. Rehabilitate or partially rehabilitate the structure prior to selling or <br />leasing the property to a purchaser or lessee for uses in accordance with the <br />Development Plan. <br />3. Sell or lease the property to purchaser or lessee usually at its fair <br />market reuse value, excepting those cases when property is sold or leased to another <br />public body for uses in accordance with the Plan. <br />B. Property Rehabilitation <br />All properties in the Area shall comply with the standards set forth in all <br />applicable statutes, codes and ordinances, as amended from time to time, relating to <br />the use, maintenance, facilities, and occupancy of existing property, including, but <br />not limited to, Chapters 6,8,9, and 21 of the South Bend Municipal Code. <br />All properties within the Area shall be maintained so that the appearance of <br />the premises and all buildings thereon shall reflect a level of maintenance in <br />keeping with the standards of the Area and the requirements of the South Bend <br />Municipal Code. <br />C. Developer's Obligations <br />The land acquired by the Redevelopment Commission will be disposed of subject <br />to an Agreement between the Commission and the Developer. The Developer will be <br />required by the Agreement to observe the land use and building requirements and <br />objectives of this Plan and to carry out all development within an agreed time <br />period. The Agreement and Deed contain other provisions required by the Commission <br />and the United States Department of Housing and Urban Development. <br />In addition, the following provisions, plus other appropriate provisions, <br />will be included in the Agreement: <br />1. An approved plan for the project and a time schedule for start and <br />completion of the project. <br />2. That the purchase of the land is for the purpose of redevelopment and not <br />for speculation. Purchase contracts will provide that the Developer agree that <br />purchase of the property is for the purpose of redevelopment and not for speculation. <br />-16 10/23/87 <br />