No. 0129 authorizing acceptance of offer made by Raitt Corp. for the last parcel of land in the Sample Street Project INDIANA R-7

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RESOLUTION NO. 129 RESOLUTION AUTHORIZING ACCEPTANCE OF OFFER MADE BY RAITT CORPORATION FOR THE LAST PARCEL OF LAND IN THE SAMPLE STREET PROJECT, INDIANA R -7. EAS, Raitt Corporation has submitted a written offer for the el commonly referred to as No. 2(b), in the Sample Street ect, Indiana, R -7; and , EREAS, the South Bend Redevelopment Commission has determined at the acceptance of this bid is in accordance with the approved sposal program for this area; and, HEREAS, the Commission has determined that the redeveloper ossesses the qualifications and financial resources necessary to cquire and develop the land in accordance with the Urban Renewal lan; and, REAS, the land to be sold has previously been offered for sale soliciting sealed bids, with no bids having been received for d property, the Commission therefore considers disposal of said d by negotiation to be the appropriate method of land disposition; HEREAS, the offer of $85,000 by Mr: Samuel Raitzin, President of aitt Corporation is the only firm and satisfactory offer received lthough, this parcel which is approximately 11.08 acres or 482, 44.8* square feet more or less, was appraised at 19.5 per square oot, in our updated reuse appraisal which would make a total of 94,115.74 approximately. WHEREAS, the acceptance of this offer ould enable us to commence the closing of the Sample Street Pro - ect, Indiana R -7 possibly by June of 1966. OW$ THEREFORE, BE IT RESOLVEb, that the South Bend Redevelopment ommission� subject to the approval of the Regional IV Office of he Department of Hotising and urban Development and proper legal otice does hereby accept the offer of Raitt Corporation to acquire t a price of $85,000 for the entire Parcel and to redevelop the esignated Disposition L?arce 2(b) which is known and described as ollows: _. Thv West 648.71 feet of Parcel 2 in the "Inner Belt ndustrial'Park ", a Subdivision in the Southeast and Southwest Quarter of Section 11, and the Northeast Quarter of Section 14, 11 in Township 37 North (T 37 N), Range 2 East (R 2 E), of the Second Principal Meridian, City of South Bend, Indiana, the Plat of which is recorded in Plat Book 21, page I, in the Office of he Recorder of St. Joseph County and containing, after said exception, 11.08 acres, more or less Adopted at a regular meeting of the South Bend Redevelopment Commission held April 21, 1966, at the office of the Commission, 1.20 West LaSalle Avenue, South Bend, Indiana.