HomeMy WebLinkAbout6A(05)VAC51
4�
° Department of
Community Investment
Memorandum
Monday, August 12, 2013
TO: Redevelopment Commissioners
FROM: Debrah Jennings
SUBJECT: Request to Advertise for Disposition of 112 S. St. Louis
Attached is the Notice of Intended Disposition of Property (Notice) for 112 S. St. Louis in the
South Bend Central Development Area.
This Notice will be advertised in both the South Bend Tribune and the Tri- County News on
August 23 and August 30, 2013.
Staff requests approval of this Notice and the Request to Advertise, for the eventual disposition
of this property.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574- 235 -9371 1 FAX: 574- 235 -9021 1 SOUTHBENDIN.GOV
Notice of Intended Disposition of Property
SOUTH BEND CENTRAL DEVELOPMENT AREA
112 S. St. Louis St.
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 South Bend Central Development Area until 9:00 a.m. (EDT) on the 13th day of
September, 2013 in the Office of the Department of Redevelopment, 1400 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. (EDT) on the 13th day of September,
2013 at the Regular Meefing 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. Bid proposals for the purchase of the property offered will be considered.
The property being offered is located at 112 S. St. Louis St., in the South Bend Central Development Area, South Bend, Indiana.
Any proposal submitted must be for the entire parcel being offered. The required re-use for the parcel is for projects that are
permitted within the MF -1 zoning designation. Strong emphasis will be placed during the review process on compatibility with the
goals and objectives of the East Bank Redevelopment Area and the South Bend Central Development planning area.
A packet containing bid forms, the offering sheet and other pertinent information may be picked up at the Department of
Community Investment, 1400 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
2. 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 South Bend Central Development Area and will best serve the interest of the community from the standpoint of
human and economic welfare
5. 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 cashiers check,
or 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 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
Scott Ford, Executive Director
Publish Dates: August 23 and August 30, 2013
11