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1 t r <br />South Bend Redevelopment Commission <br />Regular Meeting - July 18, 1997 <br />6. NEW BUSINESS (CONT.) <br />z. continued.... <br />terms of the purchase, in that, the <br />Commission would make the first <br />payment no later than August 31, 1997, in <br />an amount not to exceed $200,000; and <br />six subsequent payments being made <br />thereafter on August 15 of each year for a <br />total of five (5) years. She also noted that <br />the property is subject to a Phase I <br />Environmental Assessment. <br />Upon a motion by Ms. Schwartz, <br />seconded by Ms. Auburn and <br />unanimously carried, the Commission <br />adopted Resolution No. 1533 relating to <br />the Acquistion of Real Property in the <br />Airport Economic Development Area. <br />aa. Commission approval requested for <br />proposals for title work in the South <br />Bend Central Development Area and <br />Sample -Ewing Development Area. <br />Ms. Kolata stated that a request for <br />proposals was sent to both York Title & <br />Escrow and Meridian Title Corporation. <br />She noted that York Title & Escrow's <br />proposal came in at $130.00 per tax key <br />number. Meridian Title Company's <br />proposal came in at $100 per site and <br />there are five (5) sites. Meridian <br />anticipates to complete the title work <br />within five (5) working days. The staff <br />recommends accepting the proposal from <br />Meridian Title Corporation. <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\071897.MIN -29- <br />COMMISSION ADOPTED RESOLUTION NO. 1533 <br />RELATING TO THE ACQUISTION OF REAL <br />PROPERTY IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA <br />