No. 0119 authorizing acceptance of bid of Hanson Engineering Company for land in the Sample Street Project INDIANA R-7

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RESOLUTION NO. 119 RESOL TION AUTHORIZING ACCEPTANCE OF BID OF HANSON ENGINEERING COMPANY FOR LAND IN THE SAMPLE STREET PROJECT, INDIANA R -7 WHEREAS, Hanson Engineering Company, by Hans A. Hanson, its owner, has submitted a written offer meeting the approved minimum price on Disposition Parcel commonly referred to as No. 1(i), 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 are ; and WHERE S, the Commission has determined that the redeveloper possesses the qualif c tions and financial resources necessary to acquire and develop the land in acco dance with the Urban Renewal Plan; and WHEREAS, 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 f land disposition; and WHEREAS, the offer of 18.5 per square foot by Hanson Engineering is satisfac- tory and is not less than the fair market value for uses in accordance with the Urban Renewal Plan, as determined by updating appraisal of this area completed on October 14, 1965. NOW, THEREFORE, THE SOUTH BEND REDEVELOPMENT COMMISSION accepts the offe of Hanson Engineering to acquire at a price of 18.5` per square foot and redevelop the designated Disposition Parcel 1(i) which is known and described as follows: The North 160.03 feet of the West 230.61 feet of the South part of Parcel No. 1 in the Inner Belt Industrial Park, a Subdivision in the Southeast and Southwest Quarter of Section 11, and the North- east 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 36,904 square feet, more or less, and commonly known as Parcel 1(i), Sample Street Project, Indiana R -7, in the records of the South Bend R development Commission. 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 .