Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - March 19, 1993 <br />6. NEW BUSINESS <br />a. Receipt of bids for Parcel 3 -1 in the South <br />Bend Central Development Area. (Opelika <br />Building) <br />Mrs. Kolata noted that two bids were <br />received by the March 19, 1993, 10:00 a.m. <br />deadline. The first bid was from East Bank <br />Partners in the amount of $305,000, subject <br />to the following clarifications: 1) demolition <br />of the existing Opelika Building by the <br />Department of Redevelopment, or deduct the <br />cost of demolition from the bid price; 2) all <br />environmental problems with the existing <br />building or the site will be the responsibility <br />of the City of South Bend; 3) developer <br />retains the right to have a site inspection <br />performed prior to closing to determine the <br />conditions of the existing subgrade; 4) <br />subject to developer obtaining financing for <br />the project within a reasonable time frame; <br />5) the proposed construction schedule is: a) <br />expect to have construction drawings and <br />plans by 7/1/93, but would like to have <br />outside date of 1/1/94; b) begin construction <br />of proposed improvements within 30 days of <br />Commission's approval of plans; c) <br />completion of construction 10 months later; <br />and, d) proposal is contingent upon receiving <br />tax abatement for the project. A <br />performance guarantee of $30,500 was <br />included with the proposal. <br />-4- <br />