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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting - August 13, 1999 <br />6. NEW BUSINESS (CONT.) <br />e. continued... <br />Mrs. Kolata stated that the Redevelopment <br />Commission has a Contract with Dynamic, <br />R.E.H.C., Inc. to purchase property in the <br />U.S. 31 Industrial Park. The Contract has <br />been executed by Dynamic and it needs to <br />be executed by the Redevelopment <br />Commission. The closing is scheduled for <br />not later than October 1, 1999. It is <br />anticipated that the closing would be <br />earlier than October 1, 1999. <br />Dynamic's purchase offer was in the <br />amount of $269,500 for the 7.78 acre <br />parcel. Dynamic proposes to construct a <br />50,000 sf building on the property, which <br />will have a manufacturing and welding <br />shop. <br />Upon a motion by Mr. Donoho, seconded <br />by Mr. Blake and carried, the Commission <br />authorized the execution of the Contract <br />for Sale of Land with Dynamic, R.E.H.C., <br />Inc. for the 7.78 acre parcel in the U.S. 31 <br />Industrial Park. Mr. Faccenda abstained. <br />f. Staff report on acquisition of property <br />in the Airport Economic Development <br />Area. <br />Mrs. Kolata stated that a purchase offer <br />was sent to Dale Park, representative of <br />the family that owns approximately 19 <br />acres land on the west side of the Bypass. <br />-11- <br />COMMISSION AUTHORIZED THE EXECUTION OF <br />THE CONTRACT FOR SALE OF LAND WITH <br />DYNAMIC, R.E.H.C., INC. FOR THE 7.78 ACRE <br />PARCEL IN THE U.S. 31 INDUSTRIAL PARK <br />