HomeMy WebLinkAboutNo. 0102 authorizing a ten percent commission to real estate brokers-agents and salesmen for land disposition project IND R-7RESOLUTION NO. 102
RESOLUTION AUTHORIZING A TEN PERCENT COMMISSION TO REAL
ESTATE BROKERS- AGENTS AND SALESMEN FOR LAND DISPOSITION
PROJECT INDIANA R -7
WHEREAS, it is deeried necessary by the City of South Send, Department of
Redevelopment 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, Indiana, and
WHEREEAS, the Department of Redevelopment of the City of South Bend, Indiana
has nade every effort to dispose of said property, but the Department is of
the pinion that additional outside professional assistance could benefit
and Rccelerate the disposition program, and
WHER AS, a ten percent (10 %) commission offered to registered real estate
brok rs- agents and salesmen represents the local competitive rate for such
sale,:
NOW HEREFORE BE IT RESOLVED tUf the City of South Bend, Indiana, Rede-
velo ment Commission does hereby offer a real estate commission fee of ten
perc nt (10%) based on a final disposition price paid to the Department
on a i sales of real estate for said Department consummated by a licensed
real estate broker in the State of Indiana.
BE I FURTHER RESOLVED that this resolution shall be effective as of the
17th day of February, 1964, and such commissions paid since that date are
,,here y ratified and confirmed.