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Community & Economic Development <br />SOUTH B <br />' 186S ' <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 <br />To: Redevelopment Commission <br />From: David Relos, Economic Development Planner <br />Subject: Contract for Sale — Maribeth Roncz <br />502 W. Western Avenue (former Harmon Glass) <br />Date: November 8, 2012 <br />In July 2011, this property was taken through the disposition process, with no bids being <br />received. There is now an interested party who would like to acquire and rehabilitate this <br />property into a vocational training facility. <br />Maribeth Roncz would like to proceed with a Contract for Sale for this property, so she can <br />make the necessary improvements to turn this vacant building into a community asset. <br />These improvements will enhance this southwest corner of Western & William, and the <br />general Coveleski area. <br />Highlights of the Contract for Sale are: <br />$750 sales price <br />$30,000 in property improvements in a one year period <br />No tax abatements sought for any part of the development <br />Self- financed acquisition and rehabilitation <br />Restrictions for use of property <br />Title revestment upon certain events. <br />Staff requests Commission approval of this Contract for Sale, to allow the sale and <br />redevelopment of this property into a vocational training center and community asset. <br />What We Do Today Makes A Difference! <br />