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South Bend Redevelopment Commission <br />Regular Meeting - March 17, 1995 <br />6. NEW BUSINESS (Cont.) <br />k. continued... <br />several parties interested in the property. <br />The staff has received three proposals. All <br />the proposals are to purchase the property <br />for $1.00 and do the work over a period of <br />one to two years using a lot of sweat equity. <br />South Bend Heritage Foundation has <br />proposed to act as an intermediary for the <br />cleanout, marketing and sale of the house. <br />They hope to save the house from <br />demolition and expedite the rehab and reuse <br />of the structure. They have identified one <br />interested party in addition to the two others <br />the Commission has received offers from. <br />The proposal from South Bend Heritage also <br />asks the Commission to provide funding to <br />secure two commercial dumpsters to be <br />located at the site for the initial cleanout of <br />the building. They will organize a volunteer <br />labor pool and provide supervision and <br />liability insurance. They will in turn sell <br />the property to a qualified third party (with <br />financing and skills to complete the project) <br />for $1.00. <br />The staff recommends that we sell the <br />property to South Bend Heritage with the <br />provision that any subsequent sale be <br />approved by the Commission. The staff <br />recommends giving South Bend Heritage 30 <br />- 60 days to determine which subsequent <br />purchaser has the finances and skill to <br />complete the rehab. <br />-16- <br />