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South Bend Redevelopment Commission <br />Regular Meeting - November 17, 1995 <br />6. NEW BUSEUSS (Cont.) <br />r. continued... <br />Mrs. Kolata explained that in order to get <br />their permanent financing on the Central <br />High School Apartments, the developers <br />need to restructure their agreements with the <br />Commission for the land around it from a <br />situation in which the developer owns the <br />property, leased it to the Commission to <br />make public improvements and then <br />subleased it back, to a situation in which the <br />Commission owns the property and the <br />developer leases it from the Commission. In <br />order for the Commission to purchase the <br />property we need to have two appraisals of <br />it. <br />Jerome Michaels has proposed to perform an <br />appraisal for $1,000. McCloskey -Pitts will <br />perform an appraisal for $1,500. The staff <br />recommends accepting both proposals. <br />Upon a motion by Mr. Hunt, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission approved the proposals from <br />Jerome Michaels and McCloskey -Pitts for <br />appraisal services in the South Bend Central <br />Development Area. (Central High School) <br />S. Commission approval requested for <br />Certificate of Completion for James W. <br />and Linda M. Teske. (Apollo Precision <br />Machining) <br />Mrs. Kolata noted that the Rskes purchased <br />property in the Thll Road Industrial Park. <br />The Certificate of Completion states that <br />they have satisfied all their contractual <br />go <br />COMMISSION APPROVED THE PROPOSALS <br />FROM JEROME MICHAELS AND <br />MCCLOSKEY -PITTS FOR APPRAISAL <br />SERVICES IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA. (CENTRAL HIGH <br />SCHOOL) <br />