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South Bend edevelopment Conanission <br />Regular Mee ing - May 11, 1990 <br />6. NEW BUSINESS (Cont.) <br />10 <br />10M, <br />Mrs. Kolata noted that four proposals <br />were received by the 5:00 p.m. April 25th <br />dead-line. The staff is reviewing the <br />prorosals and will make a recommendation <br />at the next meeting. <br />Mr. Nimtz asked if there was any <br />objection to continuing this item. There <br />was no objection and item 6.a. was <br />continued. <br />Mrs Kolata noted that eleven proposals <br />were received by the 5:00 p.m. April 25th <br />deacline. The staff is reviewing the <br />prolosals and will make a recoirnnendation <br />at the next meeting. <br />Mr. Nimtz asked if there was any <br />objection to continuing this item. There <br />was no objection and item 6.b. was <br />Mrs Kolata noted that redevelopment law <br />prm ides for the Commission to dispose of <br />land through private negotiations after <br />prc4erty has been offered for lease or <br />sale in a public offering and remains <br />unsold. It has been the practice of the <br />CmMission to enter into 60-day periods <br />of Exclusive negotiations with developers <br />when it is likely to result in a contract <br />with the developer for the sale of the <br />ls. Resolution No. 933 gives the <br />Red elopment Director the authority to <br />ent into 60-day exclusive negotiation <br />-3- <br />