HomeMy WebLinkAbout6.C.(7) Staff report~; c C -~
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Community & Economic Development a~Y `'~~}=sir
1200 County-City Building, 227 West le(ferson, Souih Bend, Indiana 46601-1 830 Phone 574/235-9371 ~ 'sb`-~'~~
1'0: Rcdcvclopmcnt Commission
From: Jcnnifa~ Laurent
Subject: JMS Parking Lot (1 18 N Main St) Purchase offer
Date: '~~o~rmbcr 4, 200
On June 1 ~, the Commission appro.°ed an Option contract to purchase the propa-ty at I 1 ~ N
Main Street, the surface parking lot adjacent to the ,1MS Office E3uilding. Subsequently, the
property ~~~as publicly offered frn disposition by the Commission on August 1. Resolution 2}40
set the disposition price at S200,000, the same price at ~~~hich the Commission ~a~ould acquire the
property from the current o~~ na-. John Coyne.
An offer has been received by John ~rcidline. the current owner ofthe JMS [3uilding, to
purchase the property for 5200.000. Mr. I=rcidline intends to in~~est in the rede~~elopment of his
building with an adapti~~e residential reuse project, and requires parking to support this
development.
I ask for your approval of this offer. and direction to work with legal counsel to bring forward a
contract {or sale of land at the Noy ember ? l~` Commission mcctin~~.
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Proposal Forms
Tu_ .South (3rnd Rc~li~rrlo/~mrni Gnnnri~~ainn
l'OU C~uunn-Girt Bnildiiiy
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.Barth f3~•ncL h~clicina 4660/
Cnnun(s,c(nm°rs:
The Undersigned having familiarized itself with the present conditions of the Project Site as
hereinafter designated and legally described and with [he Proposal Documents and Forms; and certifying
its desire to participate in d1e development of the said property pursuant to Federal, State and Local
ordinances and regulations, and the Development Plan as approved by the Redevelopment Commission;
hereby offers and proposes to purchase or lease all or part of the Disposition Parcel identified in Exhibit
"A° made part of this proposal.
The Applicants offer is described as follows:
Project aieu
Dig/~o.vitinrt Purcel.Stunbc•i' Totc~l,~cres
Offer is for: ~ Entire Parcel
Part of Parcel
Form of Contract: ~ Purchase
Lease
.-h ~~ hum~r~ ~-h~~~r~ r~,°~ q~~+~
Dollars S~_~~IJUU-
Purcha~e Pnc'r
.annual L<<~i~' Purnirnr
A ~arra[i~e Description of the proposed development on [he Disposition Parcel identified in
Exhibit ~~A", describin~_ the exact nature and character of die impro~ ements proposed and their use:
togedler with maps and plans sufficiently complete to indicate the general improvements to be made is
attached and is to be considered a part of this proposal (Maps and plans must be of sufficient scale to
indicate clearly the location of the strictures and other proposed improvements and should provi<fe
information on buildin~_* elevations and materials.)
The Proposal Forms as provided by die Deparunent of Community ~~ Economic DevelopmentiDivision of
Economic De~~elopment (Department) have been completed and are considered a part of this proposal. The
Proposal Forms include: (l) a Statement of die Qualitieations and Financial Responsibility; (2) a Statement
for Public Disclosure, and; (i) a sworn Affida~~it of:~~on-Collusion. It is the understandin~* of the
Applicant drat the Statement of die Qualifications and Financial Responsibility is' confidential and to he
used solely b~-the South Bend Redevelopment Commission and the Deparunent.
A Faith ul P'r ~ rmance Guaranty in the sum of
Dollars ($ ), an amount equal ro at leash-~ °ro of die total amount offered for
the real property escribed in Exhibit °A~~, it being understood by the Applicant that the Faithful
Performance Guaranty shall guarantee the Applicants execution of and performance of the purchase or
lease agreement. The Faithful Performance Guaranty will be refunded to the successful Applicant at such
time the Commission deems that the improvements to die land, as proposed_ have been completed and the
Commission as e~~idenced by a Certificate of Completion issued by the Commission. The Faithful
Performance Guaranty will be refunded in the event dais offer is rejected.
Acceptance or rejection of Applicant's proposal shall be made by depositing such notification in
the US Mail addressed to the undersigned (Applicant) at the address set forth below.
In submitting this offer to purchase or lease, it is understood that the right to reject such offer is
reserved by the Commission. The undersigned further agrees to execute a contract for the purchase or
lease of land for development in the form prepared by the Department within thirty (30) days after
notification of acceptance of this offer and to develop and use the above identified parcel{s) of land in
confonniry ~~~ith the Federal, State and Local ordinances and regulations; applicable Development Plan;
and the Narrati~~e Description and maps and plans as submitted herein, with amendments, if any, as
approved by die Commission.
ITTEST- rBY~SECRET~R}~OF a Curpu~~urfuni Id~G'~~<s_
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