No. 0088 authorizing acceptance of bid of Midwest Sales & Service, Inc. for land in the Sample Street Redevelopment Area

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RESOLUTION NO. 88 RESOLUTION AUTHORIZING ACCEPTANCE OF BID OF MID WEST SALES & SERVI E, INC. FOR LAND IN THE SAMPLE STREET REDEVELOPMENT AREA WHEREAS Mid West Sales & Service, Inc. by G. V. Miholich, its president, has submitted a written offer meeting the approved minimum price on Disposal Parcel cormtonly referred to as No. 4(a), Samplp Street Redevelopment Project Indiana R -7; and IIHERE S said property has been advertised for sale on August 20, 1964, and an offer for the purchase of the same was received and opened at the time proposed for accepting sealed offers for the purchase of said property; and WHEREAS the South Bend Redevelopment Commission has determined that G. V. Miholich, President of Mid West Sales & Service, Inc., posses - es the qualifications and financial resources to acquire and develop the land in accordance with the Urban Renewal Plan; and b*MRE S the offer of 23.81 per square foot by Mid Nest Sales & Servi e, Inc. is satisfactory and is not less than the fair market value for uses in accordance with the Urban Renewal Plan; and $1,14 sal, BE I That and des for missi said Redeveloper has deposited a check in the amount of .80, ten per cent (10• -/0), or more, of the bid with said propo- THEREFORE RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION, ;object to the approval of the Regional Office of the Housing )me Finance Agency of Region IV, the bid of G. V. Miholich, lent of Mid Clest Sales & Service, Inc., for parcel No. 4(a) Lbed as follows: South 150' of parcel No. 4. Bounded by Chapin, Kerr, & Catalpa Sts., having frontage of 150' on Chapin and approximately 320' on Kerr St. sum of $11,428 is hereby accepted, subject to Final Survey. d at a regular meeting of the South Bend Redevelopment sion held on September 3, 1964, at the office of the Com- n, 129 Tlest Colfax Avenue, South Bend, Indiana.