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6. NEW BUSINESS (Continued) <br />m. (Continued) <br />** Note: The Chair asked the Commission to back up to item 6.j., APPROVAL <br />Contract #26, which was tabled until the next meeting. This ON CONTRACT <br />actually represented a transposition of numbers in the contract AWARD ON <br />mount. Siding Master's bid was actually $6,845 rather than #26 <br />$6,485. <br />tion was made by Mr. Wiggins, seconded by Mr. Cira and carried <br />approve award of contract #26 /NWCD at 920 N. Sherman Ave. <br />Charles Brown Maintenance in the bid amount of $6,500.00. <br />n. Commission authorization to advertise for bids on Parcel 2 -6C <br />(only a part of this parcel to be advertised), Indiana R -66 <br />enewal Area. <br />his concerns the west 52.38 feet of parcel 2 -6C. It is the land <br />in back of Sonneborns' Sporting Goods Store and they would like <br />to bid on the west 42.38 feet. There may be other bidders also. <br />Motion for approval to advertise was made by Mr. Wiggins, <br />s conded by Mr. Robinson and carried. <br />7. PROGRESS REPORTS <br />Mr. Brownell reported (if you haven't all read it in the paper) that <br />the Elderly Housing was closed on Parcel E and F. We received a <br />check in the amount of $133,610. This will be for 219 units. They <br />will break ground sometime within the next 30 days. It was reported <br />that the replacement cost for this project is about 6 million dollars <br />and the mortgage is $5,500,000, and construction costs over 4 112 <br />million dollars. We have here a rendering -- this is on the corner <br />of Monroe and the river and, as you can see, it indicates the stories <br />high and the setting in which you are going to put it. We have one <br />obligation left -- when they finish this building, we will be obli- <br />gated to put in the sidewalk. We did not put it in because we felt <br />they would damage it during construction of the building. I don't <br />know when this will be completed, but down the road when they com- <br />plete the building, maybe a year from now or so, we will have that <br />oblig tion under site improvements to build a sidewalk. <br />Mr. Blutler: Is that on Monroe Street? <br />Mr. Brownell: Yes. I don't know if there is anything else about <br />this to tell you or not. I have to tell you that these attorneys <br />did an awful lot of work. They had papers and papers and papers <br />to sign, and we still have one agreement that they're working on in <br />connection with it. <br />Mr. Wliggins said he felt a big sigh of relief -- no questions. <br />-20- <br />AUTHORIZATION <br />TO ADVERTISE <br />FOR BIDS ON <br />PART OF <br />PARCEL 2 -6C <br />CLOSING ON <br />PARCELS <br />6-1E & F <br />FOR KARL <br />KING TOWERS <br />