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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 />(7) Resolution No. 3195 approving the fair market value of property in the Airport <br />Economic Development Area. (1503 -1505 Prairie Ave.) <br />Resolution No. 3195 sets the disposition offering price for the 101,039 sq. ft. lot (2.32 acres) <br />at $63,500, 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. 3195 approving the fair market value of property in <br />the Airport Economic Development Area. (1503 -1505 Prairie Ave.) <br />(8) Bid Specifications and Design Considerations for property in the South Bend Central <br />Development Area. (1503 -1505 Prairie Ave.) <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 Light <br />Industrial zoning designation and that proposals for reuse must include a basic reuse plan <br />and project timeline. During the review process, emphasis will be placed on compatibility <br />with the goals and objectives of the surrounding neighborhood as well as the Development <br />Plan for the Airport Economic Development Area. Bidders are prohibited from using the <br />property for 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 />Airport Economic Development Area. (1503 -1505 Prairie Ave.) <br />(9) 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. (1503 -1505 Prairie Ave.) <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. (1503 -1505 Prairie Ave.) <br />(10) Resolution No. 3196 approving the fair market value of property in the South Bend <br />Central Development Area. (118 -124 William St.) <br />Resolution No. 3196 sets the disposition offering price for the vacant 12,243 sq ft lot at <br />$28,000, the average of two independent appraisals. <br />0 <br />