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South Bend Redevelopment Commission <br />Regular Meeting — March 4, 2005 <br />6. NEW BUSINESS (CONT.) <br />C. Sample -Ewing Development Area <br />(1) continued... <br />The proposed fair market value of the <br />property as derived by averaging two <br />independent appraisals is $43,000. <br />Upon a motion by Mr. King, seconded by COMMISSION APPROVED RESOLUTION No. 2124 <br />Mr. Downes and unanimously carried, the APPROVING THE FAIR MARKET VALUE OF <br />Commission approved Resolution No. 2124 PROPERTY IN THE SAMPLE -EWING <br />DEVELOPMENT AREA. <br />approving the fair market value of property <br />in the Sample -Ewing Development Area. <br />(2) Commission approval requested for Bid <br />Specifications and Design Considerations <br />for property in the Sample -Ewing <br />Development Area. (1115 South Michigan <br />Street) <br />Mr. Schalliol reported that a set of Bid <br />Specifications and Design Considerations has <br />been prepared for disposition of the South <br />Michigan Street Disposition Parcel. The Bid <br />Specifications are outlined as follows: <br />— All offers must meet the minimum price <br />of $43,000. <br />— The site proposal must include the entire <br />23,908 sq. ft. parcel being bid. <br />— The required use for the parcel is for the <br />development of a public service facility <br />that serves at minimum 51 % low and <br />moderate income individuals and groups. <br />— All proposals must conform to the <br />Federal Community Development Block <br />Grant Guidelines for service rendered to <br />low and moderate income individuals and <br />groups- <br />- The minimum building development on <br />IL 20 <br />