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South. Bend Redevelopment Commission <br />Regular Meeting - January 18, 1980 <br />6. NEW BUSINESS <br />h. continued... <br />Mr. Ellison continues... <br />We were unable to find a Commission <br />Resolution authorizing the time payment <br />sale, but the party wishes to buy the lot <br />outright for its value. So, we want to <br />correct the situation by virtue of this <br />resolution. We are in the process of talking <br />to all persons who are buying land from us <br />on a time payment basis, and I am indicating <br />to them our desire to get the 30 parcels <br />either into a regular payment schedule so <br />that we can time the point at which we will <br />no longer have the land within our inventory, <br />or to work out a method to reclaim total <br />interest in the land so that we can implement <br />a disposition plan. <br />Mr. Cira: Are there any restrictions on that <br />land? <br />Mr. Ellison: Essentially, they have to <br />comply with the renewal plan, but most <br />of the land is muck land and used for <br />gardens. <br />Ms. Derbeck: Is the amount so small because <br />it is only an installment or because the <br />land is not worth anything? <br />Mr. Ellison: No. This is the cost of this <br />particular parcel. It is based on .02� a <br />square foot. All of the land that we have <br />sold out there since we executed the close- <br />out agreement with HUD for LaSalle Park in <br />1977 has either sold at .05� a square foot <br />if it were buildable, and .02� a square foot <br />if it were muck land and not buildable. <br />Ms. Auburn: Does the property go back on the tax <br />roll as soon as this is executed? <br />Mr. Ellison: That is correct. <br />-21- <br />