HomeMy WebLinkAbout5A3 Request to Advertise (701 Rex & 808-838 Portage)CITY OF SOUTHBEND
REDEVELOPMENT COMMISSION
Redevelopment Commission Agenda Item
DATE: April 23, 2020
FROM: David Relos, Property Development Manager
SUBJECT: Request to Advertise
710 Rex St. & 808 — 838 Portage Ave. Disposition
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST:
Attached is the Notice of Intended Disposition of Property (Notice) for 710 Rex St. & 808
— 838 Portage Ave., in the River West Development Area.
This Notice will be advertised in the South Bend Tribune on April 24 and May 1, 2020.
Staff requests approval of this Notice and the Request to Advertise, for the eventual
disposition of this property.
INTERNAL USE ONLY: Project Code
Total Amount new/change (inc/dec) in budget: -0- ; Breakdown:
Costs: Engineering Amt:. ; Other Prof Sery Amt ;
Acquisition of Land/Bldg (circle one) Amt: Street Const Amt ;
Building Imp Amt ; Sewers Amt ; Other (specify) Amt:
Going to BPW for Contracting? Y/N
Is this item ready to encumber now? _N/A_ Existing PO# _ Inc/Dec $
EXCELLENCE I ACCOUNTABILITY; INNOVATION INCLUSION ; EMPOWERMENT
1400S County -City Building', 227W. Jefferson Blvd. South Bend, Indiana 46601 p 574.235.9371 f 574.235.9021 I www.southbendin.gov
Notice of Intended Disposition of Property
RIVER WEST DEVELOPMENT AREA
710 Rex St. & 808 — 838 Portage Ave.
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 River West Development Area until 9:00 a.m. (local time) on the 14th day of May, 2020 in
the Office of the Department of Redevelopment, 1400 S County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana,
46601. All offers will be publicly opened and read aloud at 9:30 a.m. (local time) on the 14th day of May, 2020 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, or in the event of cancellation or rescheduling, at the Redevelopment Commission's subsequent
regular meeting or rescheduled regular meeting held at a time and place given by public notice. Bid proposals for the purchase of
the property offered will be considered.
The property being offered is located at 710 Rex St. & 808 — 838 Portage Ave., in the River West Development Area, South Bend,
Indiana. Any proposal submitted must be for the entire site. The required re -use of the property is for commercial projects
that are permitted within the Neighborhood Center zoning designation Strong emphasis will be placed during the review
process on compatibility with the River West Development Area, and its support of the surrounding businesses and
neighborhood.
A packet containing bid forms, the Offering Sheet and other pertinent information may be picked up at the Department of Community
Investment, 1400 S. 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, and their compatibility with the
proposed re -use as described in the Offering Sheet
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 River West Development Area and will best serve the interest of the community from the standpoint of human and economic
welfare
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, 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 by the Redevelopment
Commission. The performance guaranty, if by cashier's or 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 COMMUNITY INVESTMENT
Daniel Buckenmeyer, Business Development Director
Publish Dates: April 24 and May 1, 2020