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South Bend Redevelopment Commission <br />Regular Meeting - September 15, 2000 <br />5. OLD BUSINESS (CONT.) <br />b. continued... <br />Mr. Giulioni stated that the completed appraisals <br />determined that the fair re -use value of each <br />property is $9.25 per sq. ft.. He noted that the <br />approximate size of Lease Area 1 is 3,600 sq. ft. <br />and the approximate size of Lease Area 2 is <br />1,682 sq. ft. <br />Upon a motion by Ms. Jones, seconded by <br />Mr. Caldwell and unanimously carried, the <br />Commission approved Resolution No. 1791 <br />setting the fair re -use value of property in the <br />South Bend Central Development Area. (101 W. <br />Colfax Ave. /201 N. Michigan St., Lease Area #1 <br />and 113 W. Colfax Ave., Lease Area #2, Palais <br />Royale Retail Space) <br />c. Commission approval requested for Bid <br />Specifications for property in the South Bend <br />AWN Central Development Area. (101 W. Colfax <br />Ave. /201 N. Michigan St., Lease Area # 1 and <br />113 W. Colfax Ave., Lease Area #2, Palais <br />Royale Retail Space) <br />Mr. Giulioni noted that the Bid Specifications are <br />for the disposition of retail space owned by the <br />Redevelopment Commission. <br />Upon a motion by Mr. Caldwell, seconded by <br />Mr. Kahn and unanimously carried, the <br />Commission approved the Bid Specifications for <br />the disposition of property in the South Bend <br />Central Development Area. <br />d. Commission approval requested to publish <br />the Notice of Intended Lease of Property in <br />the South Bend Central Development Area <br />with publication dates of September 22, 2000 <br />and September 29, 2000, and receipt of Bids at <br />10:00 a.m. on October 20, 2000. (101 W. <br />Colfax Ave. /201 N. Michigan St., Lease Area <br />#1 and 113 W. Colfax Ave., Lease Area #2, <br />Palais Royale Retail Space) <br />-4- <br />COMMISSION APPROVED RESOLUTION NO. <br />1791 SETTING THE FAIR RE -USE VALUE OF <br />PROPERTY IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA (101 W. COLFAX <br />AVE. /201 N. MICHIGAN ST., LEASE AREA #I <br />AND 113 W. COLFAX AVE., LEASE AREA #2, <br />PALAIS ROYALE RETAIL SPACE) <br />COMMISSION APPROVED THE BID <br />SPECIFICATIONS FOR THE DISPOSITION OF <br />PROPERTY IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA (101 W. COLFAX <br />AVE. /201 N. MICHIGAN ST., LEASE AREA #I <br />AND 113 W. COLFAX AVE., LEASE AREA #2, <br />PALAIS ROYALE RETAIL SPACE) <br />