HomeMy WebLinkAbout5B2 Former Oaklawn - Bid Specifications (403 E. Madison) - SignedSouth Bend Redevelopment Commission
227 West Jefferson Boulevard, Room 1308, South Bend, Indiana
Redevelopment Commission Agenda Item
D ATE : 4/2/2025
FROM: Erin Michaels – Property Development Manager
SUBJECT: Disposition of Former Oaklawn Property
Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res.
* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the
authorization of the expenditure of such funds shall be void and of no effect.
PURPOSE OF REQUEST: Begin Disposition Process of Former Oaklawn Property
SPECIFICS: The Redevelopment Commission (RDC) acquired the former Oaklawn property located at 403 E
Madison St through a certain Real Estate Purchase Agreement executed on November 25, 2024. Staff believe this
property is a prime redevelopment opportunity for the East Bank area.
The attached three documents - Bid Specifications, Noticed of Intended Disposition, and Resolution establishing
offering price – are the beginning of the process for the property to be redeveloped and set the following
conditions for a bid on the Property:
- $1,494,000 minimum bid (average of two appraisals)
-All bids will be due by 9:00am on May 22, 2025 and opened publicly at the RDC meeting on May 22,
2025
-During the review process, emphasis will be placed on compatibility with and support of the goals and
objectives of the surrounding businesses and neighborhood and the Development Plan for the River East
Development Area.
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
April 24, 2025
Bid Specifications & Design Considerations
Sale of Redevelopment Owned Property
Lot 4A East Bank Replat
Tax ID: 018-5022-0762 / Commonly Known As: 403 E Madison St
River East Development Area
1.All of the provisions of I.C. 36-7-14-22 will apply to the bidding process.
2.All offers must meet the minimum price listed on the Offering Sheet (page 7).
3.Proposals for redevelopment are required to be for projects that are permitted
within the DT Downtown zoning designation. All proposals must conform to the
existing zoning provisions as outlined in the South Bend Zoning Ordinance Title
21 of the City of South Bend Municipal Code.
Proposals for the reuse of the property must include a basic reuse plan for the site
and a project timeline detailing aspects of the site redevelopment and site
improvements. During the review process, emphasis will be placed on
compatibility with and support of the goals and objectives of the surrounding
businesses and neighborhood and the Development Plan for the River East
Development Area.
4.Bidders are prohibited from the use of the property for speculation or land-holding
purposes.
5.All other provisions of the River East Development Area Development Plan must
be met.