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South Bend Redevelopment Commission <br />Regular Meeting - January 15, 1993 <br />5. OLD BUSINESS (Cont.) <br />a. continued... <br />Mrs. Kolata noted that in the discussion STAFF REPORT ON VACATION <br />about the vacation of an alley in the OF ALLEY IN STUDEBAKER <br />Studebaker Corridor, she explained the CORRIDOR DEVELOPMENT AREA <br />wrong alley. The information submitted in <br />the packet was correct. We submitted a <br />petition to vacate an east -west alley that runs <br />through the block bounded by Garst, Main, <br />Stull and Michigan. Mrs. Kolata had <br />explained the north -south alley in that block. <br />It should have no impact on the Policemen's <br />Federal Credit Union, Real Services, nor <br />Gorney Liquor. <br />6. NEW BUSINESS <br />a. Staff report on bids received for land in the <br />Studebaker Corridor Development Area. <br />Mrs. Kolata noted that we received two bids STAFF REPORT ON BID FOR <br />for disposition parcels in the Studebaker DISPOSITION PARCEL 15 IN THE <br />Corridor on January 4. One bid was for STUDEBAKER CORRIDOR <br />Disposition Parcel 15. The bid was from DEVELOPMENT AREA <br />Gunther W. Jordan Corporation in the <br />amount of $2,690, which is less than the <br />minimum bid price. Mr. Jordan is the <br />president of Exacto. Mr. Jordan proposes <br />to use the property in connection with <br />operations and possible expansion of Exacto. <br />Exacto is a precision machine shop with <br />approximately 80 employees. During the <br />last four years they have invested more than <br />$600,000 in new machinery and equipment <br />and expect that they will soon run out of <br />space in their plant. Further growth in the <br />next three years will require them to expand. <br />They recently purchased the lot immediately <br />north of Disposition Parcel 15 and would <br />-4- <br />