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South Bend Redevelopment Commission <br />Regular Meeting — January 16, 2014 <br />6. NEW BUSINESS (CONT.) <br />A. South Bend Central Development Area <br />(4) Resolution No. 3194 approving the fair market value of property in the South Bend <br />Central Development Area. (332 W. Jefferson St.) <br />Ms. Jennings noted that 332 W. Jefferson, 1503 -1505 Prairie, and 118 -124 William are <br />Commission owned properties that have not yet been through the disposition process. The <br />process includes setting the fair market value by resolution. Bid specifications are <br />established for each property, indicating any minimum requirements for development, and <br />advertising the disposition with receipt of bids, in these cases February 13, 2014 at 9:00 a.m. <br />Resolution No. 3194 sets the disposition offering price for the 34 ft. x 198 ft. lot at $18,500, <br />the average of two independent appraisals. <br />Upon a motion by Ms. Shey, seconded by Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 3194 approving the fair market value of property in <br />the South Bend Central Development Area. (332 W. Jefferson St.) <br />(5) Bid Specifications and Design Considerations for property in the South Bend Central <br />Development Area. (332 W. Jefferson St.) <br />Ms. Jennings noted that the Bid Specifications & Design Considerations for this property <br />include that bids must meet the minimum offering price, must conform to the CBD zoning <br />designation and that proposals for reuse must include a basic reuse plan and project timeline. <br />During the review process, emphasis will be placed on compatibility with the goals and <br />objectives of the surrounding neighborhood as well as the Development Plan for the South <br />Bend Central Development Area. Bidders are prohibited from using the property for <br />speculation or land - holding purposes. <br />Upon a motion by Mr. Downes, seconded by Mr. Inks and unanimously carried the <br />Commission approved the Bid Specifications and Design Considerations for property in the <br />South Bend Central Development Area. (332 W. Jefferson St.) <br />(6) Authorization to publish the Notice of Intended Disposition of Property with <br />publication dates of January 24, 2014 and January 31, 2014 and Receipt of Bids at <br />9:00 a.m. on February 13, 2014. (332 W. Jefferson St.) <br />Upon a motion by Ms. Schey, seconded by Mr. Downes and unanimously carried, the <br />Commission authorized publication of the Notice of Intended Disposition of Property with <br />publication dates of January 24, 2014 and January 31, 2014 and Receipt of Bids at 9:00 a.m. <br />on February 13, 2014. (332 W. Jefferson St.) <br />5 <br />