HomeMy WebLinkAboutNo. 0129 authorizing acceptance of offer made by Raitt Corp. for the last parcel of land in the Sample Street Project INDIANA R-7RESOLUTION NO. 129
RESOLUTION AUTHORIZING ACCEPTANCE OF
OFFER MADE BY RAITT CORPORATION FOR
THE LAST PARCEL OF LAND IN THE SAMPLE
STREET PROJECT, INDIANA R -7.
EAS, Raitt Corporation has submitted a written offer for the
el commonly referred to as No. 2(b), in the Sample Street
ect, Indiana, R -7; and ,
EREAS, the South Bend Redevelopment Commission has determined
at the acceptance of this bid is in accordance with the approved
sposal program for this area; and,
HEREAS, the Commission has determined that the redeveloper
ossesses the qualifications and financial resources necessary to
cquire and develop the land in accordance with the Urban Renewal
lan; and,
REAS, the land to be sold has previously been offered for sale
soliciting sealed bids, with no bids having been received for
d property, the Commission therefore considers disposal of said
d by negotiation to be the appropriate method of land disposition;
HEREAS, the offer of $85,000 by Mr: Samuel Raitzin, President of
aitt Corporation is the only firm and satisfactory offer received
lthough, this parcel which is approximately 11.08 acres or 482,
44.8* square feet more or less, was appraised at 19.5 per square
oot, in our updated reuse appraisal which would make a total of
94,115.74 approximately. WHEREAS, the acceptance of this offer
ould enable us to commence the closing of the Sample Street Pro -
ect, Indiana R -7 possibly by June of 1966.
OW$ THEREFORE, BE IT RESOLVEb, that the South Bend Redevelopment
ommission� subject to the approval of the Regional IV Office of
he Department of Hotising and urban Development and proper legal
otice does hereby accept the offer of Raitt Corporation to acquire
t a price of $85,000 for the entire Parcel and to redevelop the
esignated Disposition L?arce 2(b) which is known and described as
ollows:
_. Thv West 648.71 feet of Parcel 2 in the "Inner Belt
ndustrial'Park ", a Subdivision in the Southeast and Southwest
Quarter of Section 11, and the Northeast Quarter of Section 14,
11 in Township 37 North (T 37 N), Range 2 East (R 2 E), of the
Second Principal Meridian, City of South Bend, Indiana, the Plat
of which is recorded in Plat Book 21, page I, in the Office of
he Recorder of St. Joseph County and containing, after said
exception, 11.08 acres, more or less
Adopted at a regular meeting of the South Bend Redevelopment
Commission held April 21, 1966, at the office of the Commission,
1.20 West LaSalle Avenue, South Bend, Indiana.