No. 0081 authorizing acceptance of bid of Primich Warehouses, Inc. for land in the Sample Street Redevelopment Area

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RESOLUTION NO. 81 RESOLUTION AUTHORIZING ACCEPTANCE OF BID OF PRIMICH WAREHOUSES, INC. FOR LAND IN THE SAMPLE STREET REDE- VELOPMENT AREA WHEREAS Primich Warehouses, Inc., by George Primich, its President, and Theodore Primich, its Vice- President- Secretary, has submitted a written offer meeting the approved minimum price on Disposal Parcel commonly referred.to as No. 1(g), Sample Street Redevelopment Project Indiana R -7; and WHEREAS the South Bend Redevelopment Commission has determined that the acc ptance of this bid is in accordance with the approved dis- posal p ogram for this area; and WHEREAS the South Bend Redevelopment Commission has determined that Primich Wh:es „ Inc. possesses the qualifications and financial resources to acquire and develop the land in accordance with the Urban Renewal Plan; and WHEREAS, by soli( said bi( the Comr tion to WHEREAS Inc, is uses in NOW, TH] offer of square which is the land to be sold has previously been offered for sale siting sealed bids; and more than 90 days have elapsed since I opening with no bids having been received for said property, fission therefore considers disposal of said land by negotia- be the appropriate method of land disposition; and the offer of 23.70 per square foot by Primich Warehouses, satisfactory and is not less than the fair market value for accordance with the Urban Renewal Plan. REFORE, the South Bend Redevelopment Commission accepts the Primich Warehouses, Inc. to acquire at a price of 23.7 per oot and redevelop the designated Disposition Parcel 1(g) known and described as follows: Commencing at an existing Cross in the East sidewalk of Scott Street at the intersection of Western Avenue, said Cross being located on the South line of Western Avenue and Five Feet (5.001) West of the East line of Scott Street; thence Southerly from said Cross a distance of Nine Hundred Thirty -eight and Forty -nine Hun- dredths Feet (938.491) to another existing Cross in the East side- walk of Scott Street; thence continuing Southerly a distance of One Hundred Feet (100.00`) to another existing Cross in the East sidewalk of Scott Street (all these three (3) Crosses being in a straight line and Five Feet (5.00') West of the East line of Scott Street); thence continuing Southerly along a line projected through the above said three (3) Crosses a distance of Seventy -one and Seventy-one Hundredths Feet (71.711); thence turning a deflection angle of Eighty -nine Derees, Fifty -seven Minutes, Thirty Seconds (890 7' 30 ") right from the last described course extended and running Westerly along this line a distance of Seventy -five Feet (75.001); thence continuing Westerly along the last described course extended a distance of Eighty -three and Eleven Hundredths Feet (83.111); thence turning a deflection angle of Eleven Degrees, Fifty - seven Minutes, Nineteen Seconds (110 57' 1911) left from the last described course extended; thence Westerly along this line, which is also the South line of the New York Central Railroad, a distance of Fo r Hundred Ninety -two and Fifty -one Hundredths Feet (492.511) -1-