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5. OLq BUSINESS (Cont'd summer period down to the dock, which will add a lot to our down- town area. 6. NEW BUSINESS a. Proclaimer Certificate No 99 R -66: Authorization was requested for the Executive Director to execute Proclaimer Certificate No. 9, for the establishment of fair reuse value, for Parcel No. 6 -2, in the Central Downtown Urban Renewal Project, Indiana R -66. Mr. Brownell advised Parcel No. 6 -2 is Public, (Green Belt Park), with 172,684 square feet. John G. Pence Associates, Inc. ap- praised the parcel at $.91 a square foot, and Forrest W. Eckert appraised the parcel at $.93 a square foot. We recommend the LPA Reuse Value at $.93 per square foot. The approximate Reuse Valuation is: $160,000.00. Motion was made by Mr. Wiggins, seconded by Mr. Donaldson and carried, to authorize the Executive Director to sign the Pro - claimer Certificate No. 9, proclaiming this value. Mr. Gene Evans, Executive Secretary, Civic Planning Association, asked the meaning of the $160,000; if we are going to sell it to the South Bend Public Park Department; if this is the land on which the Green Belt is presently being developed; we are in the position of having already invested some moneys and continuing to invest something by the City of South Bend, Park Department, on this land and they do not as yet hold clear title? Answers summarized, Mr. Brownell advised that we do hope to sell it to South Bend Public Park Department for $160,000; the Green Belt and the bridge is being developed on this land; and the land sale is similar to the land sale we had just deeded to the City last week on the West side with the fire station built on it, in our Project NDP A -10, Model Neighborhood No. 1. Mr. Evans further asked, "Being all fine, upstanding and honorable gentle- men, there's no problem on reaching some kind of a settlement ?" Mr. Brownell said he didn't believe there would be any problem, and that we are spending several hundred thousand dollars build- ing this park and are offering to sell both the land and the park for $160,000.00, which is quite a bargain for the City really, and the Park Department. Commissioner Wiggins added that the price is determined and there is no bargaining. Mrs. Janet S. Allen raised the following questions summarized: Were there only two appraisals made on that or three; and you took the higher of the two; since you are handing it over to the City more or less and expecting them to put money into it, why did you take the higher appraisal in this case? Mr. Brownell advised two appraisals were made; higher of the two appraisals was taken; we are spending several hundred thousand dollars build- ing the park in addition to the land cost, and the reason we have two appraisals instead of three is that the Indiana Statute was changed. It used to require three; today it only requires two. - 7 - PROCLAIMER CERTIFICATE NO. 9, AUTHORIZED FOR SIGNA- TURE, R -66