No. 0122 authorizing acceptance of bid of Robert G. Binder for land in the Sample Street Project INDIANA R-7

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REST FOR RESOLUTION NO. 122 UTION AUTHORIZING ACCEPTANCE OF BID OF ROBERT G. BINDER AND IN THE SAMPLE STREET PROJECT, INDIANA R -7 WHEREAS, Robert G. Binder, has submitted a written offer meeting the approved minimum price on Disposal Parcel commonly referred to as No. f (m), Sample Street Project, Indiana R -7; and WHEREAS, the South Bend Redevelopment Commission has determined that the acceptance of this bid is in accordance with the approved disposal program for this area; and WHE EAS, the Commission has determined that the redeveloper possesses the q alifications and financial resources necessary to acquire and develop the lad in accordance with the Urban Renewal Plan; and WHEREAS, the land to be sold has previously been offered for sale by solici ing sealed bids, with no bids having been received for said property, the Commission therefore considers disposal of said land by negotiation to be he appropriate method of land disposition; and WHEREAS, the offer of 18.5 per square foot by Robert G. Binder is satisfactory and is not less than the fair market value for use in accordance with tae Urban Renewal Plan, as determined by updating appraisal of this area ompleted on October 14, 1965. NOW THEREFORE, THE SOUTH BEND REDEVELOPMENT COMMISSION accepts the offer of Robert G. Binder to acquire at a price of 18.5fi per square foot and redevelop the designated Disposition Parcel 1(m), which is known and described as follows: The North 150.0 feet of the North Part of Parcel No. 1 in the Inner Belt Industrial Park, a Subdivision in the South- east and Southwest Quarter of Section 11, and the Northeast Quarter of Section 14, 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 59, 118 square feet, more or less. Adopted at a regular meeting of the South Bend Redevelopment Commission held February 3, 1966, at the office of the Commission, 120 West LaSalle Avenue, South Bend, Indiana.