Laserfiche WebLink
6 e C3? <br />Community & Economic Development 0 <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 — Jones Petrie Rafinski (formerly Wightman Petrie) <br />402 S. Lafayette Blvd. <br />Date: November 8, 2012 <br />This property was recently taken through the disposition process, with no bids being <br />received this past September. At that time Wightman Petrie, the abutting property owner to <br />the south, sent a letter stating their interest in acquiring the property, but not at its offering <br />price of $82,500, considering the substantial investment it would take to redevelop the site. <br />Wightman Petrie, now known as Jones Petrie Rafinski (JPR), would like to proceed with a <br />Contract for Sale for this property, with the following highlights: <br />$1,000 sales price <br />Investment of $280,000 to $362,000 in a two year period <br />No tax abatements sought for any part of the development <br />Items precedent to closing include: <br />Proof of financing <br />Commission approval of the final site plan and development specifications <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 through the incorporation of this site with JPR's property to <br />the south. <br />What We Do Today Makes A Difference! <br />