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South Bond Redevelopment Commission <br />Regular Meeting- April 25, 1980 <br />7. PRO SS REPORTS <br />c. Mr. Ellison continues... <br />offers from other parties. <br />Mr. Cira: I haven't seen anything in <br />the papers that this vacant building <br />has been advertised. Maybe a lot <br />of these retail merchants that could <br />be interested would like to rent for <br />the Christmas holidays. This is only <br />the fifth month of the year. They <br />could be interested in a $1.00 per month <br />lease. <br />Mr. Ellison: We have had a number of <br />people look at these and other <br />properties, but these properties do <br />require a substantial amount of work. <br />Some need more work than others. <br />Mr. Cira: But, have they been advertised? <br />Mr. Ellison: We have not advertised <br />them formally, however, after the <br />initial news story, we have had quite <br />a number of phone calls. <br />Mr. Kagel: I guess I am assuming something <br />here. I understand the term of parties <br />in this case refers to political parties. <br />In other words, it is quite feasible or <br />possible that there could be one party <br />in one building, and then next door <br />someone of the opposite political <br />persuasion, in the way that you have <br />pointed out here. <br />Mr. Ellison: Yes. HUD's concern is that <br />if we lease to a political entity, that <br />there be an open competition process and <br />that the rental not be less than the <br />economic rent as shown by appraisers. <br />Mr. Kagel: In other words, I guess what <br />I am trying to say is that you have <br />already had an initial request from a <br />political entity and if they accept what <br />your proposition is here, your proposal, <br />that thay can then have it under the <br />conditions that you have placed. <br />-35- <br />