No. 0121 authorizing acceptance of bid of Harley H. Powell and Ralph L. Powell, partners for land in the Sample Street Project INDIANA R-7

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RESOLUTION NO. 121 RESOLU ION AUTHORIZING ACCEPTANCE OF BID OF HARLEY H. POWELL AND RA PH L. POWELL, PARTNERS FOR LAND IN THE SAMPLE STREET PROJECIr, INDIANA R -7. WHERE S, Harley H. Powell and Ralph L. Powell, partners have submitted a written offer meeting the approved minimum price on Disposal Parcel commonly referred to as No. 1(1), 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 WHERE S, the Commission has determined that the redeveloper possesses the qualificlance ions and financial resources necessary to acquire and develop the land in actor with the Urban Renewal Plan; and WHERE S, the land to be sold has previously been offered for sale by soliciting 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 WHEREAS, the offer of 18.5 per square foot by Harley H. Powell and Ralph L. Powell is satisfactory and is not less than the fair market value for use in accordance with the Urban Renewal Plan, as determined by updating appraisal of this are a completed on October 14, 1965. NOW, THEREFORE, THE SOUTH BEND REDEVELOPMENT COMMISSION accepts the offer of Harley H. Powell and Ralph L. Powell, to acquire at a price of 8.5� per square foot and redevelop the designated Disposition Parcel 1 (1) whi h is known and described as follows; The North 150.0 feet of the South 300.0 feet of the North Part of Parcel No. 1 in the Inner Belt Industrial Park, a Subdivision in the Southeast and Southwest Quarter of Section 11, and the Northeast Quarter of Section 14, 'all in Township 37 North, Range 2 Eat 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 59,0 65 square feet, more or less, and commonly known as Parcel 1(1), Sa ple Street Project, Indiana R -7, in the records of the South Be d Redevelopment Commission. Adopted t a regular meeting of the South Bend Redevelopment Commission held Feb uary 3, 1966 at the office of the Commission, 120 West LaSalle Avenue, South Be d, Indiana.