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South Bed Redevelopment Commission <br />Regular Ieeting - April 25, 1980 <br />4. COMMUNICATIONS <br />a. Mr. Brademas continues... <br />believe that you are setting a <br />stage here to tell local developers <br />at you don't want them involved in the <br />owntown program, or for that matter, any <br />rograms in which this Redevelopment <br />oommision is going to be involved. I am <br />ere to tell you that I resent it and I <br />kink that in the final analysis that this <br />s going to come back and haunt you. <br />. Nimtz: Thank you, Mr. Brademas. <br />ything further from the press or public? <br />v1s. Derbeck: How much are they paying for <br />he building? <br />Mr. Ellison: Their bid is for $100. <br />. Brademas: You might note that ours <br />is ten times that. <br />Ellison: For clarity purposes, our <br />offering for price for the value of the <br />wilding is $295.000. No proposal came in <br />o acquire the building at that amount. The <br />I roposals ranged from $1.00 to $10,000 <br />hich was high. In order to convey the building <br />or less than $295.000 the Commission elected <br />o reject all the bids some time ago and to go <br />nto a 90 -day period of negotiation. Some <br />ime after the 90 -day period ended the South <br />end Building Corporation came to us and about <br />month ago the Commission elected to go into <br />thirty day negotiation period and today's <br />"eeting is the result of that period. <br />'Ir. Brademas: I might be out of line Mr. Ellison, <br />but can you tell me during that ninety day period <br />who or which of the four initial redevelopers <br />who submitted proposals did you negotiate with? <br />. Ellison: By that, do you mean...did we <br />have contact with redevelopers? <br />t oit. Brademas: Well obviously you are going <br />have contact if you are going to negotiate <br />h them. <br />-16- <br />