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South�Bend Redevelopment Comission <br />Regul r Meeting - January 18, 1980 <br />6. N N BUSINESS <br />h. continued.... <br />Mr. Cira made a motion to approve Resolution <br />No. 600, authorizing the execution of the <br />Redevelopment agreement for disposition of <br />land and the execution of quit -claim deed(s) <br />for the transfer of title thereto in connection <br />with land to be disposed of in the LaSalle <br />Park Project, Ind. R -57, (Parcel #17 -31, to <br />Shandy Warfield & -Eddie Warfield, in the amount <br />of $96.00), and that the President and <br />Secretary be authorized to enter into that <br />agreement, seconded by Ms. Auburn, and the <br />motion was unanimously carried. <br />7. NOGRESS REPORTS <br />MT. Ellison; Let me go back to the land <br />in Ind. R -57. The staff has put some time <br />into this and we have had some conversations <br />with HUD. We were concerned with what steps <br />would be necessary if the Commission wanted to <br />take some action to try to dispose of this <br />land more rapidly. It is currently our <br />e erience that it cost us more to sell a <br />lot than we receive in proceeds from it. <br />for all practical purposes the land <br />(the 130 parcels we own) has a negative <br />value. The total value, assuming we <br />calculate it at .02� a foot, is approximately <br />$16,000.00 - $20,000.00 for the 130 parcels <br />in question. Of the 130 parcels, 30 including <br />the one that was just authorized to be sold, <br />are involved in a time payment arrangement. <br />Our experience indicates that typically <br />the buyer does not necessarily make payments <br />regularly and as a result, we then have to <br />spend additional staff time to try to <br />be sure that we are eventually able to <br />dispose of those lots. We are in the <br />process of talking to all the parties <br />involved in the purchasing of the 30 parcels <br />and have essentially indicated to them that <br />we really would want to establish reasonable <br />payments with a schedule so that we will know <br />when we will no longer have the property on <br />ouIr hands. <br />-22- <br />RESOLUTION #600, <br />APPROVED FOR DIS- <br />POSITION OF LAND IN <br />LASALLE PARK - IND. <br />R-57 <br />DISCUSSIONS CONCERNING <br />STEPS NECESSARY TO DIS- <br />POSE OF REMAINING LAND <br />IN IND. R -57 <br />