No. 0126 authorizing acceptance of bid of Model Coverall Service, Inc. for land in the Sample Street Project INDIANA R-7

Home Browse Search

W HER] the approve Sample Str< WHER] the accepta: this area; a RESOLUTION NO. 126 RESOLUTION AUTHORIZING ArrFPTANCE OF BID OF MODEL COVERALL SERVICE, INC. FOR LANDS IN THr SAMPLE STREET PROJECT, INDIANA R -7. :AS, Model Coverall Service, Inc. has submitted a written offer meeting I minimum price on Disposal Parcel commonly referred to as No. 1(j), et Project, Indiana R -7; and, ,S, the South Bend Redevelopment Commission has determined that e of this bid is in accordance with the approved disposal program for WHEREAS, the Commission has determined that the redeveloper possesses the qualifications and financial resources necessary to acquire and develop the land in acc rdance with the Urban Renewal Plan; and, WHER AS, the land to be sold has previously been offered for sale by solicit- ing sealed bids, with no bids having been received for said property, the Commission therefore considers disposal of said land by negotiation to be the appropriate method of land disposition; and, W -ER AS, the offer of 18, 5� per square foot by Model Coverall Service, Inc. is satisfact ry and is not less than the fair market value for use in accordance with the Urban R newal Plan, NOW, THEREFORE, BE IT RESOLVED, that the South Bend Redevelopment Commission, subject to the approval of the Regional Office of the Department of Housing and Urban Development of Region IV, does hereby accept the offer of Model Coverall Service, Inc, to acquire at a price of 18,5 per square foot and redevelop the designated Disposition Parcel 1(j), which is known and described as follows: All of the South Part of Parcel No. 1 except the West 250.61 feet in the Inner Belt Industrial Park, a Subdivision in the Southeast and Southwest Quarter of Section 11, and the Northeast Quarter of Section la, all in Township 37 North, Range 2 East 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 the Recorder of St. Joseph County, and containing 81, 120 square feet, more or less. Adopted at a regular meeting of the South Bend Redevelopment Commission held March 7, 1966, at the office of the Commission, 120 West LaSalle Avenue, South Bend, ndiana.