HomeMy WebLinkAboutNo. 0111 authorizing commission to real estate brokers-agents and salesmen for land disposition project INDIANA R-57RESOLUTION NO. III
RESOLUTION AUTHORIZING COMMISSION TO
ESTATE BROKERS- AGENTS AND SALESMEN FOR LAND DISPOSITION
PROJECT INDIANA R -7
WHEREAS, it is deemed necessary by the City of South Bend, Department of
Redevelopme t to dispose of real estate in the urban renewal area known and
designated as Sample Street Project Area, Indiana R -7, in the City of South
Bend, India a, and
WHEREAS, the Department of Redevelopment of the City of South Bend,
Indiana, has made every effort to dispose of said property, but the
Department is of the opinion that additional outside professional assistance
could benefit and accelerate the disposition program, and
WHEREAS, a six percent (6) to ten percent (10%) commission offered to
registered eal estate brokers - agents and salesmen appears to be a fair
rate for sulch sales:
NOW, T REFORE$ BE IT RESOLVED that the City of South Bend, Indiana,
Redevelopment Commission, does hereby offer the following real estate
ccr.mission fees for land sold in the Sample Street Project, Indiana R -7,
based on final disposition price paid the Redevelopment Commission:
Ten percent (10%) of final disposition price up to
the sum of $5,000, with minimum fee for any sale accepted
by the Redevelopment Commission to be $100.
Plus Six percent (6%) of the final disposition price
in excess of $5,000.
BE IT THER RESOLVED that this resolution supersedes South Bend
Redevelopment Commission Resolution No. 102, effective February 17, 1964,
and shall effective as of September 16, 1965.