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Notice of Intended Disposition of Property <br />SOUTH BEND CENTRAL DEVELOPMENT AREA <br />402 S. Lafayette Blvd. <br />South Bend, Indiana <br />Notice is hereby given that the Redevelopment Commission of the City of South Bend, Indiana, will receive sealed offers for <br />the purchase of certain property situated in the South Bend Central Development Area until 9:00 a.m. (EDT) on the 13th day <br />of September 2012 in the Office of the Department of Redevelopment, 1200 County -City Building, 227 West Jefferson <br />Boulevard, South Bend, Indiana, 46601. All offers will be publicly opened and read aloud at 9:30 a.m. (EDT) on the 13th <br />day of September 2012 at the Regular Meeting of the Redevelopment Commission to be held that date and time in Room <br />1308 County -City Building, 227 West Jefferson Boulevard, South Bend, IN 46601. Bid proposals for the purchase of the <br />property offered will be considered. <br />The property being offered is located at 402 S. Lafayette Blvd., in the South Bend Central Development Area, South Bend, <br />Indiana. Any proposal submitted must be for the entire parcel being offered. The required re -use for the parcel is <br />commercial projects that are permitted within the "CBD" District zoning designation. Strong emphasis will be placed during <br />the review process on compatibility with the goals and objectives of the South Bend Central Development planning area and <br />the Coveleski Redevelopment Area. <br />A packet containing bid forms, the offering sheet and other pertinent information may be picked up at the Department of <br />Community and Economic Development, 1200 County -City Building, 227 West Jefferson Boulevard, South Bend, IN 46601. <br />The Commission reserves the right to reject any and all bids, and to make the award to the highest and best bidder. In <br />determining the best bid, the Commission will take into consideration the following: <br />1. The use of the improvements proposed to be made by each bidder on the property <br />2. Each bidder's ability to improve the property with reasonable promptness <br />3. Each bidder's proposed purchase price <br />4. Any factors which will assure the Commission that the sale, if made, will further the carrying out of the <br />Development Plan for the South Bend Central Development Area and will best serve the interest of the community <br />from the standpoint of human and economic welfare <br />5. The ability of each bidder to finance the proposed improvements to the property with reasonable promptness <br />The Commission further reserves the right to waive any formalities in bidding which are not mandatory requirements. <br />A bid submitted by a trust (as defined in IC 30- 4- 1 -1(a)) must identify each: <br />(A) beneficiary of the trust; and <br />(B) settlor empowered to revoke or modify the trust. <br />To secure the execution of the disposition agreement, the purchase of the property and the redevelopment thereof in <br />accordance with the agreement, the bidder must submit with the proposal a faithful performance guaranty, in the sum of ten <br />percent (10 %) of the amount offered for the purchase of the property. The guaranty sum may be in the form of a certified <br />check, a cashier's check, or surety bond, letter of credit from a bank or trust company as approved by the Redevelopment <br />Commission, or by other sufficient security, but the form, substance and terms of the performance guaranty must be <br />approved as satisfactory by the Redevelopment Commission. The performance guaranty, if by certified check, shall be <br />deposited in any account of the Department of Redevelopment, City of South Bend, in a bank or trust company selected by <br />the Redevelopment Commission. <br />CITY OF SOUTH BEND, INDIANA <br />DEPARTMENT OF REDEVELOPMENT <br />Donald E. Inks, Director <br />Publish Dates: August 24 and August 31, 2012 <br />