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4. RECEIPT OF SEALED BIDS (Cont'd) President Helmen identified the parcels by what was situated, on atid before it was ever demolished: The first parcel men- tioned here is the parcel, triangular section formerly occu- pied by the Granada Theatre, which used to be Goldblatt's three-cornered section. The next parcel has to do with the entire east side of Michigan Street from Colfax to Washing- ton Street, and to the Poledor Building, Rodin's, LaCharme Beauty Salon and Tompsett Studio. New York Fur, Philadel- phia, Sally Swiss, the Beauty College above, and the Beauty Supp y, and south across the street which used to be Max Adle 's; to the west (what we know As the Block's Jewelry Store) moving west to the alley what used to be the Shoe Re- pair Shop. Mr. Lennon reviewed the bid document and turned the docu- ment over to Legal Counsel, Mr. Kevin J. Butler, to review. Mr. Eutler, in reviewing the bid document, said the bid proposal has been duly executed, Redevelopment Affidavit of Non- ollusion has been duly executed and in proper order, the edeveloper's Statement for Public Disclosure is en- clos d and duly executed, and the security in the amount of 10% of the total bid is enclosed in sum of $161,498.10, and the total bid being: $1,614,981.00. A letter of credit, in the amount of 10% of the total bid, is enclosed. All of the necessary documents forming the bid proposal have been enclosed and inserted within the bid. The motion, Mr. Presi- dent should be to receive the bid proposal and to submit to the proper people - -to Legal Counsel and staff to report back to the Commission. There is a narrative description, Exhibit 2, Statement of conditions applicable to and constituting part of proposal. Mr, iggins, as point of order, asked if there are any other bids received for this property. Mr. Lennon said "No ", and they were no further bids from the audience. TherE being no further bids, Mr. Wiggins made the motion the tid from Associates Bancorp., Inc. be received and for- ward Ed to Legal Counsel and staff for review and recommenda- tion Said motion was seconded by Mr. Chenney and unani- mous .v carried. President Helmen said: Mr. Dick Van Mele, standing right here to my left, is the man who put this together. He is with Associates Corporation of North America and has been working closely with Mr. Taylor and Mr. Lennon, and a lot of the credit of what has happened here goes to Dick. He has worked very diligently on this. I am not speaking for the Com- mission--I am speaking as a Commissioner- -not as Presi- dent. This morning's Press Conference at Associates was - 5 -