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CITY OF SOUTH BEND i COMMUNITY INVESTMENT <br />The following six items are the specific criteria that must be addressed by bidders when submitting a <br />proposal. Each bid will be evaluated for these six criteria items and a total score for the bid will be <br />determined. <br />Proposed future <br />p e use for the property, r <br />Up to 10 pts. <br />Financial plan and demonstration/proof of financial ability to <br />Up to 10 pts. <br />complete/achieve intended future use of the property (this may <br />me ude a loan pre-approvalletter finstatmnt <br />or financial statement). <br />� � �..... ... .. �,. �..... <br />....��w �...A,_� �.... <br />Timeframe for start and completion of the intended development <br />Up to 10 pts. <br />of the property. ...._.,.�.. <br />_ ....ww �.�� ............. <br />Longterm improvement/be.n..efit to <br />o the neighborhood. Does the <br />_.m. .... <br />Up to 10 pts. <br />proposed future use of the property advance objectives/goals of <br />e Comprehensive and Neighborhood plan for the neighborhood. <br />The proposed use fits within the existing zoning classification for <br />Up to 5 pts. <br />the property in question. <br />d amount <br />Up to 5 pts. <br />The City reserves the right to reject any and all proposals, incomplete proposals submitted by bidders <br />will not be considered. <br />It is the bidder's responsibility to complete due diligence prior to submitting a proposal. This includes, <br />but is not limited to, the following: <br />1. Receiving a title report for the property in question. <br />2. Receiving an environmental report for the property in question. <br />3. Hire a professional surveyor to conduct a survey of the property in question to confirm property <br />lines. <br />4. Checking the zoning to ensure their proposal is an allowable use at the property in question. <br />The winning bidder will be subject to a purchase agreement that fully stipulates the criteria set forth in <br />the bidder's proposal. If, at any time, the winning bidder does not follow through on the items stipulated <br />in the bidder's proposal, the City reserves the right to repossess the property for the original amount <br />paid by the bidder minus legal fees. If at any time the winning bidder desires to sell the property without <br />first completing the items stipulated in the proposal, the City reserves the right to repossess the <br />property for the original amount paid by the bidder minus legal fees. <br />Each proposal received in pursuit of purchasing the property in question will be sent to a committee for <br />independent review and scoring, comparison, and then a recommendation to the Board of Public Works <br />regarding the bid award. <br />Page 12 <br />