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South Bend Redevelopment Commission <br />Regular Meeting -February 15, 2008 <br />6. NEW BUSINESS (CONT.) <br />G. Northeast Neighborhood Development Area <br />(1) Commission authorization requested to <br />contract for disposition appraisals for the <br />Eddy Street Commons parking garage. <br />Mr. Inks noted that at its last meeting the <br />Commission approved the Development <br />Agreement for the Eddy Street Commons <br />project. Part of that Development Agreement <br />is for the city to construct a parking garage <br />and for the Redevelopment Commission to <br />dispose of the garage via a lease. The <br />Development Agreement sets a timeframe to <br />accomplish that disposition. We need to <br />move quickly on that disposition. Mr. Inks <br />contacted four appraisers that we typically <br />use. Only one responded with a proposal for <br />performing a disposition appraisal. The <br />others responded that they could not provide <br />a quote at this time. The proposal is from <br />Rick Pitts in the amount of $5,500. Mr. Inks <br />requested approval of the proposal from Rick <br />Pitts and authorization for Mr. Inks to solicit <br />and accept another proposal in an amount not <br />to exceed $6,000. Two appraisals are <br />required to set a disposition price. <br />Upon a motion by Mr. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved the request for <br />proposals for disposition appraisals for the <br />Eddy Street Commons garage site and <br />accepted the proposal of Rick Pitts in the <br />amount of $5,500 and authorized Mr. Inks to <br />accept an additional proposal in an amount <br />not to exceed $6,000, subject to ratification <br />by the Commission. <br />COMMISSION APPROVED THE REQUEST FOR <br />PROPOSALS FOR DISPOSITION APPRAISALS FOR <br />THE EDDY STREET COMMONS GARAGE SITE AND <br />ACCEPTED THE PROPOSAL OF RICK PITTS IN THE <br />AMOUNT OF $5,500 AND AUTHORIZED MR. INKS <br />TO ACCEPT AN ADDITIONAL PROPOSAL IN AN <br />AMOUNT NOT TO EXCEED $6,000, SUBJECT TO <br />RATIFICATION BY THE COMMISSION <br />17 <br />