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4. §EALED BIDS DISPOSITION PARCEL NO. 7 -1A he Redevelopment Commission of the City of South Bend advertised to receive sealed offers for the purchase of certain parcel of land situated in the Central Downtown Proje t Area, at 10:30 a.m., E.S.T., on the 7th day of Decem er, 1973: arcel approximately 17,505 square feet, designated s Disposition Parcel 7 -1A, with a minimum acceptable nit bid price of $2.66 square foot, total minimum ac- eptable price, subject to survey $46,563.50. The advertisement appeared in The South Bend Tribune and Tri -C unty News, on November 2 and November 9, 1973. The certi ications of the proofs of publications were submitted by Mr Lennon and stated for the public record. Mr. L nnon requested if there were any sealed bids to be recei ed for the purchase of parcel designated as Disposi- tion larcel No. 7 -1A. This is the northern portion of land ommonly known as the Royal Inn property. Mr. T omas Gibson, representing the St. Joseph Bank & Trust Comps y, submitted a sealed bid from Mr. Earl Gagosian, owner of th Royal Inn of South Bend, Indiana for this parcel. Mr. L nnon asked if there were any other bids to submit for this arcel, with no further response. The question was again asked, "Are there any other bids ?" No fu they bids were submitted. Mr. Lennon opened the bid- - contents showing: The bid submitted is for $2.66 per square foot, or a total bid of $46,563.50, from Earl Gagosian. Ac- companying the bid is a bank money order, in the amount of $4,6515.35, and his proposal for acquisition of Disposition Parcel No. 7 -1A, being approximately 17,505 square feet, at $2.66 per square foot, or $46,563.50. This is subject to the actual square footage on final survey. All documenta- tion Was enclosed with the bid: Narrative description as part of Exhibit "3" to proposal dated December 7, 1973; Redev loper's Affidavit of Non - Collusion; Redeveloper's Statement for Public Disclosure and Redeveloper's Statement of Qu lifications and Financial Responsibility. The Narra- tive tates: arl Gagosian, presently proposes to purchase Redevelop - ent Parcel 7 -1A for the purpose of constructing parking acilities. Mr. Gagosian presently holds title to Re- evelopment Parcel 7 -1 on which the Royal Inn is located. he proposed parking facilities are intended to supple - ent those of the Royal Inn. This use is intended to armonize with the objectives and overall plan of the entral downtown redevelopment area. BID RECEIVED FROM EARL GAGOSIAN, FOR DISPOSITION PARCEL NO. 7 -1A, R -66