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PVy Property Award Letter <br />From: Lawrence Magliozzi <br />To: Angie Jacob <br />Date: 5/22/01 1:40PM <br />Subject: Re: City Property Award Letter <br />OK, we have two issues here. The first is that the estimates that you gave me for advertising was a total <br />of a high of $40 ($20 per paper). Although only estimates, I used these to be included in the advertised <br />sale price. I will be talking to Mr. Ludwig to see if he is willing to pay the extra, which is $38.88. The <br />second is that this is the first that I have been made aware of a Purchase Agreement. Does this have to <br />be done before the Board approves the sale, or after? I also need to see what the Agreement looks like. <br />Do you have one, or do I get it from Legal? <br />We will have to adjust how we advertise these "adjacent" properties. Unlike other city lot sales, the law <br />clearly states that the sale price must be included in the advertising and in the notice to the adjacent <br />property owners. So, in the future, I will calculate a sale price without including the advertising and <br />recording cost. Probably should have done this anyway. I will amend future ads to indicate that other <br />costs associated with advertising and recording will be assessed. <br />As a point of information, the Recorder now charges $14.00 for Deeds. The Fee Schedule does not <br />differentiate between the different kinds of deeds. <br />Frank: Due to our advertising a set price, but needing to cover higher advertising costs, can we still sell <br />this property to Mr. Ludwig? If he agrees to the higher sale price, does that still make it right? I suspect <br />that we have to sell at the advertised sale price, even if Mr. Ludwig agrees to pay the higher cost. <br />Angie: I need to know who the checks are payable to. Is the advertising costs payable to Board of Public <br />Works? Is a separate check needed for the cost of the lot, and to whom is the check made out to? The <br />City of South Bend? Also, I need to include an estimates $$ cost of your time for future sale price <br />estimates. I already have mine and Legal's. Please give me your approximation of the average time you <br />spend on each property transaction to the nearest hour, and what the hourly rate would be. As an <br />example, I used 4 hours for my time, and 2 hours for Legal time. <br />Frank and Angie: I told Mr. Ludwig that he would be responsible for recording the deed, therefore we <br />should not be recouping the recording fee. If this is an activity that we need to perform, please inform me <br />so that I can give Mr. Ludwig the proper instructions. <br />Once we get these details straightened out, I will redraft the procedures sent to you earlier. I would still <br />like to see this on the Agenda Session, if possible. I will plan on attending unless told otherwise. Thanks <br />for all your time on this. This procedure is actually turning out to be more time consuming and <br />complicated than what we have done in the past, but there are some obvious benefits relative to <br />marketing these properties. If we are real successful, we'll sell them all and not have to worry about <br />vacant lots anymorell <br />Larry Magliozzi <br />Community Development <br />1200 County -City Building <br />South Bend, IN 46601 <br />Phone: (219) 235-5550 <br />Fax: (219) 235-9697 <br />Imaglioz@ci.south-bend.in.us <br />>>> Angie Jacob 05/22/01 06:51AM >>> <br />This is what the Board sends out. For 619 Indiana, here are the costs that need to be remitted: <br />Page 1 <br />