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South Bend I Redevelopment Commission <br />Resdiedule4 Regular Meeting - August 25, 1989 <br />6. <br />C. <br />(Cont.) <br />n ice to vacate and that the Commission <br />wottld probably want the property vacant <br />by winter. <br />Ms Margaret Hires asked how long it <br />ta. Des to close on the accepted purchase <br />offer. Mrs. Kolata responded that <br />closing takes approximately three weeks <br />f the date of acceptance. <br />Ms Hires asked how taxes are handled. <br />Kolata responded that they are pro <br />rated as in any real estate transaction. <br />She also noted that outstanding mortgages <br />arxi liens are subtracted from the <br />p price at the closing before the <br />se�ler is paid. <br />n a motion by Mr. Combs, seconded by <br />Mr. Piasecki and carried, the Commission <br />approved Resolution No. 883, with the <br />co ected "Attachment A", relating to <br />aapisition of property within the South <br />Central Development Area by eminent <br />d in. Mr. Nimtz voted present. <br />Mr Nimtz reassured the property owners <br />th t the staff is willing to work with <br />th n and their tenants to achieve <br />sa isfactory settlements and <br />re ocations. They should feel free to <br />co tact the staff about any concerns they <br />ha:%te. <br />Mr. Snider asked what type of <br />multi-family units will be built on the <br />as led land - low or high income? <br />. Kolata responded that they would <br />prcbably be market rate - not luxury, but <br />no subsidized. It will depend on what <br />prcposals are received when the land is <br />put. up for public bid. <br />Ms. Arnold asked when the Purchase Offers <br />will be sent. Mrs.-Kolata responded that <br />we plan to send them out the week of <br />Auqust 27. <br />-7- <br />• . 883 WIM THE CORRECIED <br />"ATTACliMENT All, RELATING TO <br />ACQUISITION OF PROPERTY Wr= <br />THE SOUrH BEND CENTRAL <br />DEVELOPMENT AREA BY EMINENT <br />DOMAIN <br />1 <br />