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South Bend Redevelopment Commission <br />Regular Meeting —October 7, 2005 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(2) continued... <br />businesses. The Commission usually pays <br />relocation costs; however, relocation costs <br />have been waived in favor of the negotiated <br />price, at considerable savings to the <br />Commission. In addition, the purchase <br />agreement contemplates dismissal of a law <br />suit pending against the City. So, the <br />$400,000 purchase price is not a premium <br />price, but it does capture all those items <br />previously referenced. It is a reasonable <br />purchase price and is necessary to <br />accomplish the transaction. <br />Upon a motion by Mr. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2187 <br />related to acquisition of property in the South <br />Bend Central Development Area. (Colley <br />properties) <br />(3) Commission approval requested to set <br />aside funds for property maintenance and <br />authorize staff to order services related to <br />property maintenance in the South Bend <br />Central Development Area. (Colley <br />properties) <br />Mr. Schalliol explained that, once the real <br />estate transaction has closed, staff intends to <br />ultimately demolish the properties purchased <br />from the Colleys. However, demolition is <br />not imminent; so the buildings will need to <br />be secured and maintained. Staff is asking <br />the Commission to approve a not -to- exceed <br />budget of $5,000 to secure and maintain the <br />three properties and authorize staff to order <br />ILI <br />11 <br />COMMISSION APPROVED RESOLUTION No. 2187 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA. <br />(COLLEY PROPERTIES) <br />