HomeMy WebLinkAboutNo. 0093 authorizing acceptance of Cummins Engine Company, Inc. of Columbus, IN, for land in the Sample Street INDIANA R-7 Redevelopment AreaRESOLUTION NO, 93
BID OF
RESOLUTION AUTHORIZING ACCEPTANCE OF /CUMMINS ENGINE COMPANY,
INC. OF COLUMBUS, INDIANA, FOR LAND IN THE SAMPLE STREET
INDIANA R -7 REDEVELOPMENT AREA
WHEREA Cummins Engine Company, Inc. of Columbus, Indiana, has submitted
a writ en offer meeting the approved minimum price on Disposal Parcel
common y referred to as No. 6, Sample Street Redevelopment Project
Indian R -7; and
WHEREAS said property has been advertised for sale on April 16, 19649
and the following bids were received and opened at the time proposed
for accepting sealed offers for the purchase of said property; Helen
Deka - $20,684.96 (48.30 per square foot); William Paulson - $22,012.56
(51.40 per square foot); and Cummins Engine Co. - $25,100 (58.60 per
square footh and
the South Bend Redevelopment Commission has determined that
Engine Co., Inc. possesses the qualification and financial
�s to acquire and develop the land in accordance with the Urban
Plan; and
WHEREA the offer of 58.60 per square foot by Cummins Engine Co., Inc.
is sat and is not less than the fair market value for uses in
accord ce with the Urban Renewal Plan; and
WHEREA said Redeveloper has deposited a check in the amount of $2,510,
ten pe cent (10%), or more, of the bid with said proposal,
NOW T BEFORE BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION,
That subject to the approval of the Regional Office of the Housing and
Home Finance Agency of Region IV, the bid of Cummins Engine Co., Inc.,
for Parcel No. 6 described as follows:
The triangle section of disposition parcel No. 6, consisting of
42,826 square feet, having approximately 400 feet frontage on
Chapin Street and approximately 220 feet frontage on Sample St.
for they sum of $25,100 is hereby accepted.
Adopte at a regular meeting of the South Bend Redevelopment Commission
held on October 15, 1964, at the office of the Commission, 129 West
Colfax venue, South Fend, Indiana.