No. 0079 authorizing acceptance of bid for land in the Sample Street Redelopment Area (Indiana Wiping Cloth, Co.)

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RESOLUTION NO. 79 RESOLUTION AUTHORIZING ACCEPTANCE OF BID FOR LAND IN THE SAMPLE STREET REDEVELOPMENT AREA WHEREAS, Indiana Wiping Cloth, Co. by its partners Betty Silverman and ,tqrome Silverman, has submitted a written offer meeting the approved minimum price on Disposal. Parcel commonly referred to as No. l(f), Sample Street Redevelopment Project Indiana R -7; and WHEREAS, he South Bend Redevelopment Commission has determined that the cceptance of this bid is in accordance with the approved disposal rogram for this area; and WHEREAS, the South Bend Redevelopment Commission has determined that Indiana Wiping Cloth, Co. possesses the qualifications and financial resources to acquire and develop the land in accordau e with the Urban Renewal Plan; and WHEREAS, the land to be sold has previously been offered for sale by soliciting sealed bids; and more than 90 days have elapsed since said bid opening with no bids having been received for said property, the Commission therefore considers disposal of said land by negotia- tion to be the appropriate method of land disposition; and WHEREAS, the offer of 23.70 per square foot by Indiana Wiping Cloth, Co. is s tisfactory and is not less than the fair market value for uses in ccordance with the Urban Renewal Plan. NOW THEREFORE, the South Bend Redevelopment Commission accepts the offer of Indiana Wiping Cloth, Co. to acquire at a price of 23.7 per square foot and redevelop the designated Disposition Parcel 1(f) which is known and described as follows: locat West said nine East dista in th being line proje Seven turni Minut cribe line 1 estab7 in the (200.( along five i nine ] right along cing at an existing Cross in the East sidewalk of Scott at the intersection of Western Avenue, said Cross being d on the South line of Western Avenue and Five Feet (5.001) f the East line of Scott Street; thence Southerly from ross a distance of Nine Hundred Thirty -eight and Forty- undredths feet (938.491) to another existing Cross in the idewalk of Scott Street; thence continuing Southerly a ce of One Hundred 7 ° -t (100.00') to another existing Cross East sidewalk of Scott Street (all these three (3) Crosses in a straight line and Five Feet (5.00') West of the East f Scott Street); thence continuing Southerly along a line ted through the above said three (3) Crosses a distance of y -one and Seventy -one Hundredths Feet (71.711); thence g a deflection angle of Eighty -nine Degrees, Fifty - seven s, Thirty Seconds (890 571 30 ") right from the last des - course extended and running Westerly along this line a ce of Seventy -five Feet (75.001); thence Southerly on a arallel to and Seventy -five Feet (75.001) West of the line fished by the three (3) previously described existing Crosses East sidewalk of Scott Street a distance of Two Hundred Feet 01)to the point of beginning; thence continuing Southerly the last described course a distance of One Hundred- Thirty- eet (135.001); thence turning a deflection angle of Eighty - grees, Fifty -seven Minutes, Thirty Seconds (890 57' 3011) from the last described course extended; thence Westerly this line a distance of One Hundred Seventy Feet (170.001); -1-