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South Bend Redevelopment Commission <br />Regular Meeting - April 7, 1995 <br />C. continued... <br />covered with masonry veneer nine feet high, <br />with masonry columns and a metal facade <br />above the masonry, with arch top windows <br />and doors and a covered main entry. The <br />production and warehouse sections of the <br />building will have earth tone metal siding, <br />with six foot masonry wainscoting. The <br />purchase offer was made with the following <br />conditions: <br />1. Redevelopment accept a counteroffer in <br />the amount of $325,000 from Design <br />Packaging, Inc. for the property at 600 <br />North Niles Avenue. <br />2. The purchase of Disposition Parcel <br />Number One to Design Packaging and <br />the sale to the Commission of 600 North <br />Niles shall be structured as a like -kind <br />exchange, pursuant to S 1031 of the <br />Internal Revenue Code, using an escrow <br />agent. <br />3. The Commission will not pay any <br />relocation costs of Design Packaging. <br />4. Receipt of tax abatement for the <br />proposed new development. <br />5. Satisfactory documentation concerning <br />the environmental condition of <br />Disposition Parcel Number One. <br />As mentioned above, the staff has had <br />numerous discussions with representatives of <br />Design Packaging and recommends <br />6. NEW BUSINESS (Cont.) <br />