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South Bend Redevelopment Commission <br />Regular Meeting — December 19, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />(3) continued... <br />3615 Voorde Drive in the Airport Economic <br />Development Area. (Fortis Plastics) <br />B. South Bend Central Development Area <br />(1) Contract for Sale of Land (118 N. Main <br />St.) <br />Ms. Laurent noted that on June 3 the <br />Commission approved an option agreement <br />for purchase of the property at 118 N Main <br />St., the surface Parking Lot owned by Mary <br />Coyne Investments, Inc., adjacent to the <br />historic JMS office building. The <br />Commission's interest in the property is <br />related to parking assembly for a proposed <br />redevelopment of the JMS building. At that <br />time it was agreed that the Commission <br />would secure an Option on the property and <br />dispose of it through the public disposition <br />process, setting an offering price equal to the <br />Commission's negotiated purchase price. <br />On November 4 the Commission approved <br />an offer to purchase the property for that <br />price, $200,000, from John Freidline, and <br />directed staff and legal counsel to prepare a <br />contract for sale of land. The contract is <br />presented for your approval at this time, <br />although Mr. Freidline has been traveling and <br />has not seen the finished contract. Legal <br />counsel has advised that the Commission <br />may approve it subject to final review by Mr. <br />Freidline. Any substantive changes will, of <br />course, be brought back to the Commission <br />for approval. <br />9 <br />