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South Bend Redevelopment Commission <br />} err+ gular Meeting - January 20, 1995 <br />6. NEW BUSINESS (Cont.) <br />b. continued... <br />Mrs. Kolata noted that the staff <br />recommendation is to accept the <br />proposal. She noted that, while the <br />purchase price is not the minimum bid <br />price, the staff did not expect that the <br />first developers in the area would pay <br />the full price. A price break is usually <br />given to the first developments in an <br />area. Since J G. Sullivan will not be <br />seeking tax abatement or any other form <br />of public assistance in this project, the <br />staff feels that $25,000 per acre is a fair <br />price at this time. <br />Upon a motion by Mr. Donoho, <br />seconded by Mr. Hojnacki and <br />unanimously carried, the Commission <br />accepted the proposal from J. G. <br />Sullivan Advertising for part (two acres) <br />of Lot 4 in Blackthorn Corporate Center. <br />C. Staff report on disposition of property <br />in the Sample -Ewing Development <br />Area. <br />Mrs. Kolata noted that New Hope <br />Missionary Baptist Church has made an <br />offer to trade properties it owns which <br />the Commission wishes to purchase, for <br />properties the Commission owns and has <br />offered for sale. The size of the <br />properties offered for trade are almost <br />identical in size to parcel 31A and 31B <br />which they wish to acquire. The value <br />of the properties the Commission owns is <br />-9- <br />COMMISSION ACCEPTED THE PROPOSAL <br />FROM J G. SULLIVAN ADVERTISING FOR <br />PART (TWO ACRES) OF LOT 4 IN <br />BLACKTHORN CORPORATE CENTER <br />