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South Bend Redevelopment Commission <br />Reschedule Regular Meeting - September 25, 1981 <br />6. NEW BUSINESS (continued) <br />i., j.,j and k. continued... <br />very strong interest from an existing South Bend <br />business. They are interested in bidding on the <br />property. This is a case where an existing busi- <br />ness in South Bend is expanding, will be leaving <br />our community, or moving in the near future. We <br />would like to capture them into the South Bend area <br />and particularly we would like to keep them in the <br />Monroe-Sample area. As a result, we have attempted <br />to put together all the necessary documentation over <br />the last few weeks and make this parcel available <br />for the formal public offering. We have three items <br />tha relate to that activity. <br />The first item is Commission designation for Dis- <br />position Parcel No. l in the Monroe - Sample Develop- <br />ment Area. <br />On a motion made by Mr.. Robinson, seconded by Ms. <br />Aub rn and unanimously carried, the legal description <br />was designated as Disposition Parcel No. 1 in the <br />Mon oe- Sample Development Area. <br />Mr. Nimtz asked for a motion that they approve Resolu- <br />tioi No. 646 for the fair market re -use value of Par- <br />cel 1 in the Monroe- Sample Development Area. <br />Mr. McMahon stated that the parcel has approximately <br />85,100 sq. ft. for permitted industrial uses consistent <br />witi the Monroe - Sample Plan. The minimum bid price <br />tha is established is $9,913.00. I would like to bring <br />to he attention of the Commission that this re -use <br />appraisal takes into consideration the fact that we are <br />not demolishing houses or clearing the property. Had <br />we one through the process of demolishing and clearing <br />the property and preparing it for sale, this figure <br />would have been higher. In this particular instance, <br />we do not have the opportunity to go in and do all of <br />that work and then make the property available. We <br />have chosen to go this route, and quite frankly, from <br />the Department's standpoint, to the extent that we can <br />solicit interest in the properties without us going <br />through the demolition process, I think we are going <br />to Iry to encourage it, as it saves us some expendi- <br />tur s from a cash flow standpoint. It is money that <br />we on't have to Dav out. <br />13 <br />