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South Bend Redevelopment Commission <br />Regular Meeting - March 7, 1997 <br />6. NEW BUSINESS (Cont.) <br />a. continued.... <br />Administration building, at least 8,000 sf. <br />to 10,000 sf. Any proposal that the <br />Commission would go forward with <br />should be in place by Monday at 5:00 <br />p.m., and a performance bond consistent <br />with the sales price the Commission <br />agrees to must be received by that time. <br />Ms. Kolata noted that one of the <br />proposals did come in with a performance <br />guarantee and the other did not. <br />Ms. Schwartz noted that she's <br />uncomfortable with the idea that the <br />Commission should have any contingent <br />costs of site preparation, including <br />environmental preparation. Any amount <br />that the Commission accepts should be for <br />the property "as is ". She noted that the <br />amount that she would consider would be <br />$75,000. She noted that she thinks the <br />developer should be responsible for any <br />sidewalk improvements and site <br />improvements with no tax abatement. <br />All of this would be subject to the General <br />Services Administration's approval of the <br />project should the developer decide to go <br />forward with their proposed project. <br />She noted the Commission started out <br />with a purchase price of $253,075, then <br />recognized that the site is not one where <br />the developer would go in and use the <br />currently existing building; that there's <br />going to be some cost related to the <br />construction of the developer's project in <br />getting the site prepared for future <br />H:\ HOME \CPHWPS \WPDATA \COMMSN\030797.MIN -8- <br />