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1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021
To: South Bend Redevelopment Commission
From: Matthew Sikora, Economic Development Planner
Subject: Request Permission to Advertise
602 Carroll Street
Date: June 28, 2011
Attached is the Notice of Intended Disposition of Property for 602 Carroll Street in the
South Bend Central Development Area. The advertisements will be printed in both the
South Bend Tribune and the Tri- County News on July 8th and July 15th. Staff asks for
the approval of the request to advertise for the disposition of this property on the two
aforementioned dates.
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Notice of Intended Disposition of Property
SOUTH BEND CENTRAL DEVELOPMENT AREA
602 Carroll Street
South Bend, Indiana
Notice is hereby given that the Redevelopment Commission of the City of South Bend, Indiana, will receive sealed offers for the
purchase of certain property situated in the South Bend Central Development Area until 10:00 a.m. (EDT) on the 26th day of July
2011 in the Office of the Department of Redevelopment, 1200 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana, 46601. All offers will be publicly opened and read aloud at 4:00 p.m. (EDT) on the 26th day of July 2011 at the Regular
Meeting of the Redevelopment Commission to be held that date and time in Room 1308 County-City Building, 227 West Jefferson
Boulevard, South Bend, IN 46601. Bid proposals for the purchase of the property offered will be considered.
The property being offered is located at 602 Carroll Street, in the South Bend Central Development Area, South Bend, Indiana. Any
proposal submitted must be for the entire parcel being offered. The required re -use for the parcel is residential projects that are
permitted within the "SF1" and "SF2" Residential District zoning designation. Strong emphasis will be placed during the review
process on compatibility with the goals and objectives of the Monroe Park Neighborhood and the South Bend Central Development
planning area.
A packet containing bid forms, the offering sheet and other pertinent information may be picked up at the Department of
Community and Economic Development, 1200 County-City Building, 227 West Jefferson Boulevard, South Bend, IN 46601.
The Commission reserves the right to reject any and all bids, and to make the award to the highest and best bidder. In determining
the best bid, the Commission will take into consideration the following:
1. The use of the improvements proposed to be made by each bidder on the property
2. Each bidder's ability to improve the property with reasonable promptness
3. Each bidder's proposed purchase price
4. Any factors which will assure the Commission that the sale, if made, will further the carrying out of the Development Plan
for the South Bend Central Development Area and will best serve the interest of the community from the standpoint of
human and economic welfare
5. The ability of each bidder to finance the proposed improvements to the property with reasonable promptness
The Commission further reserves the right to waive any formalities in bidding which are not mandatory requirements.
A bid submitted by a trust (as defined in IC 30- 4- 1 -1(a)) must identify each:
(A) beneficiary of the trust; and
(B) settlor empowered to revoke or modify the trust.
To secure the execution of the disposition agreement, the purchase of the property and the redevelopment thereof in accordance
with the agreement, the bidder must submit with the proposal a faithful performance guaranty, in the sum of ten percent (10 %) of
the amount offered for the purchase of the property. The guaranty sum may be in the form of a certified check, a cashier's check,
or surety bond, letter of credit from a bank or trust company as approved by the Redevelopment Commission, or by other sufficient
security, but the form, substance and terms of the performance guaranty must be approved as satisfactory bythe Redevelopment
Commission. The performance guaranty, if by certified check, shall be deposited in any account of the Department of
Redevelopment, City of South Bend, in a bank or trust company selected by the Redevelopment Commission.
CITY OF SOUTH BEND, INDIANA
DEPARTMENT OF REDEVELOPMENT
Donald E. Inks, Director
Publish Dates: July 8 and July 15, 2011