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South Bend Redevelopment Commission <br />Regular Meeting - March 7, 1997 <br />6. NEW BUSINESS (Cont.) <br />a. continued.... <br />meeting. <br />Mrs. Kolata noted there are differences in <br />the proposals for the property and what <br />was asked of the Redevelopment <br />Commission in terms of participation. <br />She noted that both developers assume <br />they would do the demolition themselves <br />and any necessary environmental <br />remediation. They have both included the <br />Commission in bearing some of the <br />demolition and environmental remediation <br />cost. Mr. Gould bid a set price and has <br />estimated what the costs would be. If the <br />costs would be less than his estimated <br />amount, he would keep the remainder. <br />SSP Properties bid an amount, assuming a <br />certain amount for demolition. If it would <br />exceed that amount, then Redevelopment <br />would get the balance. She noted that <br />both developers submitted a proposal on <br />all the property, parcels A, B, and C. <br />These parcels had a combined minimum <br />purchase price of $253,075, but neither <br />developer proposed this amount. <br />Mrs. Kolata noted that one of the <br />proposals addressed having a single <br />building but didn't address any future <br />development on the site. The other <br />proposal addressed a phase I, II, and <br />possibly a phase III in terms of <br />constructing different buildings on the <br />site. She noted that both proposals are <br />consistent with the fact that if the General <br />Services Administration doesn't give them <br />the award they won't go forward with <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\030797.MIN -6- <br />