08-15-13 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Regular Meeting — Thursday, August 15, 2013 6. NEW BUSINESS A. South Bend Central Development Area (2) continued... advantage is that it takes a little piece of real estate that is valuable to that development. The idea is to either remove it or something else that provides the same function somewhere else. Upon a motion by Mr. Downes, seconded by Ms. Schey and unanimously carried, the Commission approved Resolution No. 3154 approving and authorizing the execution of an Addendum to the Master Agency Agreement (Hill & Colfax Drainage Improvements Project). (3) Resolution No. 3149 approving the fair market value of property in the South Bend Central Development Area. (112 S. St. Louis St.) Mr. Relos noted that Resolution No. 3149 sets the fair market value for 112 S. St. Louis St., within the South Bend Central Development Area. The proposed fair market value of the property, as derived by two independent MAI appraisals, is $4,200. Staff requests approval of Resolution No. 3149. Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission approved Resolution No. 3149 approving the fair market value of property in the South Bend Central Development Area. (112 S. St. Louis St.) (4) Bid Specifications and Design Considerations for property in the South Bend Central Development Area. (112 S. St. Louis St.) Mr. Relos noted that the Bid Specifications and Design Considerations are for the disposition of 112 S. St. Louis. The Bid Specifications outline the uses and development requirements that will be required for this site, which include: • All offers must meet the minimum price listed on the Offering Sheet • All proposals must conform to the existing zoning provisions set forth for the CBD as outlined in the South Bend Zoning Ordinance. • All proposals must include the basic reuse plan for the site and a project timeline detailing aspects of the site redevelopment and sited improvements. Emphasis will be placed on compatibility with the goals and objectives of the East Bank Redevelopment Area as well as the Development Plan for the South Bend Central Development Area. • Bidders are prohibited from using the property for speculation or landholding purposes.