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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 />(9) continued... <br />Commission's review, those documents <br />being necessary to affect the intent of the <br />transaction as presented today. The <br />resolution approves the transaction as <br />presented and allows staff to finalize the <br />necessary documents and present them to <br />Commissioners for execution without <br />waiting for the next Commission meeting. <br />This, of course, presumes that there is no <br />material change from terms and conditions of <br />the transaction as presented today. The <br />resolution expressly recognizes that time is <br />of the essence and authorizes the above <br />actions. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission approved Resolution No. 2188 <br />approving the execution of a purchase <br />agreement and other related documents <br />associated with the purchase of property <br />located at 117 West South Street, 720, 722, <br />724 and 726 South Michigan Street in the <br />South Bend Central Development Area. <br />(4) Commission approval requested for Bid <br />Specifications and Design Considerations <br />for property in the South Bend Central <br />Development Area. (Air Rights, St. Joseph <br />& Jefferson Garage) <br />Ms. Laurent noted that the Bid Specifications <br />and Design Considerations for the Air Rights <br />over the St. Joseph & Jefferson St. Garage <br />will be included in the Bid Packet for the <br />site. The fair market price for the property <br />13 <br />COMMISSION APPROVED RESOLUTION NO. 2188 <br />APPROVING THE EXECUTION OF A PURCHASE <br />AGREEMENT AND OTHER RELATED DOCUMENTS <br />ASSOCIATED WITH THE PURCHASE OF PROPERTY <br />LOCATED AT 117 WEST SOUTH STREET, 720, <br />722, 724 AND 726 SOUTH MICHIGAN STREET IN <br />THE SOUTH BEND CENTRAL DEVELOPMENT <br />AREA. <br />