No. 0111 authorizing commission to real estate brokers-agents and salesmen for land disposition project INDIANA R-57

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RESOLUTION NO. III RESOLUTION AUTHORIZING COMMISSION TO ESTATE BROKERS- AGENTS AND SALESMEN FOR LAND DISPOSITION PROJECT INDIANA R -7 WHEREAS, it is deemed necessary by the City of South Bend, Department of Redevelopme t to dispose of real estate in the urban renewal area known and designated as Sample Street Project Area, Indiana R -7, in the City of South Bend, India a, and WHEREAS, the Department of Redevelopment of the City of South Bend, Indiana, has made every effort to dispose of said property, but the Department is of the opinion that additional outside professional assistance could benefit and accelerate the disposition program, and WHEREAS, a six percent (6) to ten percent (10%) commission offered to registered eal estate brokers - agents and salesmen appears to be a fair rate for sulch sales: NOW, T REFORE$ BE IT RESOLVED that the City of South Bend, Indiana, Redevelopment Commission, does hereby offer the following real estate ccr.mission fees for land sold in the Sample Street Project, Indiana R -7, based on final disposition price paid the Redevelopment Commission: Ten percent (10%) of final disposition price up to the sum of $5,000, with minimum fee for any sale accepted by the Redevelopment Commission to be $100. Plus Six percent (6%) of the final disposition price in excess of $5,000. BE IT THER RESOLVED that this resolution supersedes South Bend Redevelopment Commission Resolution No. 102, effective February 17, 1964, and shall effective as of September 16, 1965.