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South Bend Redevelopment Commission <br />Regular Meeting - September 16, 1994 <br />6. NEW BUSINESS (Cont.) <br />g. continued... <br />Ms. Auburn noted that an agreement exists <br />to sell that site to Holladay Corporation for <br />$20,000 per acre. <br />Mrs. Kolata noted that the offer includes the <br />stipulation that if the lease execution does <br />not take place on or before October 30, <br />1994, Holladay Corporation retains the right <br />to withdraw the offer and have their <br />performance guarantee returned. <br />Ms. Manier noted that if Holladay <br />Corporation wishes to exercise its option to <br />purchase the additional site at the $20,000 <br />price agreed upon in the contract, the <br />Commission does not have to approve that <br />at a public meeting. Holladay Corporation <br />simply needs to notify the Commission and <br />submit a site plan and the performance <br />guarantee. <br />7. PROGRESS REPORTS <br />Mrs. Kolata reported that La -Z -Boy has finished PROGRESS REPORTS <br />their expansion and remodelling and the building <br />is a nice addition to the corner of LaSalle & <br />Main. <br />8. NEXT COMNIISSION MEETING <br />The next Regular Meeting of the Redevelopment NEXT COMMISSION MEETING <br />Commission is scheduled for October 7, 1994 at <br />10:00 a.m. <br />-13- <br />