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South Bend Redevelopment Commission <br />Regular Meeting - September 6, 1996 <br />6. NEW BUSINESS (Cont.) <br />a. continued.... <br />Mrs. Kolata noted that neither of the <br />two bids for the property located at 602 <br />S. Michigan Street meet the minimum <br />offering price. <br />b. Receipt of bids on 505 W. Washington <br />in the West Washington Chapin <br />Development Area. <br />Mrs. Kolata noted that the first bid is in <br />the amount of $13,500. Enclosed in the <br />proposal was a check for the 10% <br />performance guarantee from Dennis J. <br />Emery at 501 W. Washington. His <br />proposal is to purchase the property and <br />improve it with proper paving and <br />landscaping for the use by residents living <br />in the adjacent thirty -nine unit property <br />that Mr. Emery has owned for more than <br />twenty -four years located at 501 W. <br />Washington. Mr. Emery has submitted a <br />paving estimate from Asphalt Engineers <br />and a landscaping plan from Landscaping <br />Unlimited showing some trees and <br />planting areas between the sidewalk and <br />the parking lot. <br />Mr. Donoho asked what was the <br />minimum purchase price for the lot. <br />Mrs. Kolata responded that the minimum <br />price is $12,000. <br />Mrs. Kolata noted that the other bid for <br />the property at 505 W. Washington is <br />from Lex Investments, Inc. at 509 W. <br />Washington. Enclosed was an offer in the <br />-11- <br />