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South Bend Redevelopment Commission <br />Regular Meeting — March 4, 2005 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />(1) continued... <br />approve and adopt a listing of properties to <br />be acquired and the price to be offered. The <br />offering price may not exceed the average of <br />two (2) independent appraisals of fair market <br />value. However, I.C. 36- 7- 14 -19(b) grants <br />the Commission the right to exceed the <br />offering price only if specifically authorized <br />by the Commission. <br />Mr. Hunt inquired as to how many <br />employees were involved related to the <br />relocation. <br />Mr. Schalliol replied that there are at least <br />twenty -five (25) present employees and the <br />business owner will be expanding by square <br />footage, business opportunities and <br />employees in the new location. <br />Upon a motion by Mr. Hunt, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2147 <br />related to acquisition of property in the South <br />Bend Central Development Area. <br />(2) Staff report on disposition of property in <br />the South Bend Central Development <br />Area. (237 N. Michigan Street & adjacent <br />parking lot, former Hotel LaSalle) <br />Mr. Mathia reported that bids for disposition <br />of the Hotel LaSalle and adjacent parking <br />area were opened by the Commission at its <br />regularly scheduled meeting on February 18, <br />2005. Upon opening, the bids were referred <br />to staff for review. Staff has completed the <br />IL 13 <br />COMMISSION APPROVED RESOLUTION NO. 2147 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA. <br />