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South Bend Redevelopment Commission <br />Regular Meeting — October 15, 2010 <br />6. NEW BUSINESS (CONT.) <br />D. Airport Economic Development Area <br />(16) continued... <br />through the disposition process to sell the <br />property. <br />Resolution No. 2791 sets the fair market <br />value for 1313 Prairie Avenue at $189,000. <br />The property is approximately 2 acres and <br />contains a 6,432 sft building. The property is <br />zoned VI — General Industrial. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Varner and unanimously carried, the <br />Commission approved Resolution No. 2791 <br />approving the fair market value of property <br />in the AEDA (1313 Prairie Ave.) <br />(17) Approval of Bid Specifications and Design <br />Considerations for 1313 Prairie Ave. <br />Mr. Relos noted that the bid specifications <br />are as follows: <br />All offers must meet the minimum price of <br />$189,000.00. The site purchase must include <br />the entire + 2.04 Acre parcel being bid and <br />must include the adaptive reuse of the <br />building. The building and property are <br />being offered in an "As Is" condition. The <br />required use for the Parcel is Light or <br />General Industrial or Commercial - <br />Industrial,in accordance with the "GI" <br />General Industrial District zoning <br />designation. Strong emphasis will be placed <br />during the review process on compatibility <br />with the goals and objectives of Ignition <br />Park. All proposals for reuse of the <br />disposition parcel must include a basic reuse <br />29 <br />COMMISSION APPROVED RESOLUTION No. 2791 <br />APPROVING THE FAIR MARKET VALUE OF <br />PROPERTY IN THE AEDA (1313 PRAIRIE AVE.) <br />