Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - December 3, 1993 <br />6. NEW BUSINESS (Cont.) <br />1. continued... <br />Transpo. The contract stipulated that the <br />repurchase price would be based on 1) a cash <br />payment of $53,600; 2) the depreciated value <br />of the improvements on the site; and 3) the <br />lesser of the actual moving expenses of <br />Transpo or $25,000. <br />During discussions with Transpo, it was <br />determined that rather than trying to <br />determine the depreciated value of the <br />improvements and the moving costs, the <br />Commission would make available to <br />Transpo the lot at Main and Western and <br />improve it for their use. This would be done <br />in lieu of items number 2 and 3. <br />Shortly after that was agreed upon, Transpo <br />received word that it had received a grant <br />from the federal government and is trying to <br />decide where it will ultimately locate. We <br />reopened discussions with Transpo and <br />determined that rather than completely <br />improving and relocating Transpo to the lot <br />at Main and Western, we will improve the <br />site as a parking lot and make that available <br />to them for temporary use if they need it <br />between the time Trammell Crow needs <br />access to the present site and when Transpo <br />has a new site ready. The Board of Public <br />Works has awarded the contract for <br />improving the Main and Western site as a <br />parking lot and the cost is $58,000. <br />In order to come up with a new settlement <br />with Transpo, we've subtracted that $58,000 <br />from the total estimate for completely <br />-13- <br />