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RM 10-04-96
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RM 10-04-96
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South Bend Redevelopment Commission <br />Regular Meeting - October 4, 1996 <br />6. NEW BUSINESS (Cont.) <br />e. continued.... <br />No. V) from the Airport Economic <br />Development Area Allocation Area No. 1 <br />Special Fund (The "Allocation Fund "). <br />f. Commission approval requested for <br />Resolution No. 1470 related to <br />acquisition of property located in the <br />South Bend Central Development <br />Area. <br />Mrs. Kolata noted that this resolution <br />authorizes the Director to send a purchase <br />offer for the property at 529 Crescent. <br />The owner of the property is Dennis <br />Hartman. <br />She stated that this resolution is <br />somewhat different than the resolutions <br />the Commission usually consider. <br />Resolution No. 1470 does not authorize <br />the director to encourage a counter offer <br />and does not provide for the use of <br />Eminent Domain. <br />The purchase offer would be in the <br />amount of $40,000 payable in annual <br />installments of $10,000 beginning on <br />November 1, 1996 and the next three <br />years. <br />Mrs. Kolata noted that the <br />Redevelopment staff had a discussion with <br />the owner of the building, Mr. Hartman. <br />The building is immediately adjacent to <br />the property that was acquired from <br />Design Packaging. <br />a <br />-11- <br />
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