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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 />(2) continued... <br />improve the real property with reasonable <br />promptness; (3) Whether the real property <br />when improved will be sold or rented; (4) <br />The bidder's proposed sale or rental prices; <br />(5) The bidder's compliance with the statute; <br />and (6) Any factors that will assure the <br />Commission that the sale or lease, if made, <br />will further execution of the redevelopment <br />plan and best serve the interest of the <br />community, from the standpoint of both <br />human and economic welfare. However, the <br />language of the statute ensures that it is not <br />mandatory upon the Commission to award a <br />bid following the bidding process. <br />Mr. Hunt asked in opening negotiations after <br />the thirty (30) day period has expired, can <br />any other prospective bidders be considered. <br />Ms. Greene answered that the Commission <br />has met its legal obligation related to the sale <br />of property by offering the property through <br />the public bidding process. For a period of <br />thirty (30) days after bids are opened, the <br />Commission is prohibited from entering into <br />a contract to sell the property under a <br />negotiated sale. However, if directed by the <br />Commission, negotiations can occur during <br />the thirty (30) day time period with anybody, <br />including those entities or persons who <br />submitted bids during the bidding process as <br />well as anyone else who did not submit a bid. <br />15 <br />