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South Bend Redevelopment Commission <br />Regular Meeting - September 1, 1995 <br />6. NEW BUSINFSS (Cont.) <br />d. continued... <br />square foot building with basement for use <br />as their office and warehouse. The original <br />offering price for the property when it was <br />put up for bid was $13,000. <br />Mr. Jon Hunt noted that Disposition Parcel <br />8 is a very small piece of property, not <br />suited to many uses, but will serve Hydronic <br />and Steam Equipment well. The staff <br />recommends accepting the counter offer, <br />including the proposal for Disposition <br />Parcel 8. The relocation payment will be <br />made in two installments: 50 % at the time <br />they move their heating and air conditioning <br />equipment that is used for training and 50% <br />at the completion of the move. The staff <br />also recommends that Hydronic and Steam <br />Equipment be allowed to occupy their <br />current premises rent free until 1996 because <br />we have no interest in moving to demolish <br />the structure at this time. <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Donoho and unanimously carried, <br />the Commission accepted the counter offer <br />from Hydronic and Steam Equipment, Inc. <br />which included the Commission's purchase <br />of 503 E. Ohio for $124,755, a total fixed <br />relocation payment of $70,245, and the <br />purchase of Disposition Parcel 8 for $5,000, <br />subject to approval of site plan and building <br />materials. <br />RM <br />COMMISSION ACCEPTED THE COUNTER <br />OFFER FROM HYDRONIC AND STEAM <br />EQUIPMENT, INC. WHICH INCLUDED THE <br />COMMISSION'S PURCHASE OF 503 E. OHIO <br />FOR $124,755, A TOTAL FIXED RELOCATION <br />PAYMENT OF $70,245, AND THE PURCHASE <br />OF DISPOSITION PARCEL 8 FOR $5,000 <br />