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South Bend Redevelopment Commission <br /> Regular Meeting—March 13, 2012 <br /> 6. NEW BUSINESS (CONT.) <br /> C. Airport Economic Development Area <br /> (2) Declaration that Bosch site disposition <br /> process completed. <br /> Mr. Relos noted that on November 22, 2011, <br /> the Commission approved by Resolution <br /> No. 2959 the fair market value of the Bosch <br /> site at 401 N. Bendix Drive. Based on two <br /> independent commercial appraisals, this <br /> unique property was valued to determine <br /> both its sales and lease value. <br /> Additionally, the property was valued three <br /> different ways: as a total site, only the main <br /> building and land (Plant 100), and only the <br /> smaller engineering building property and <br /> land (Plant 9). The values arrived at were: <br /> • Total site (29.46 acres) <br /> sale price $1,967,500 <br /> triple net lease $1.60 / square foot <br /> • Plant 100 (25.90 acres) <br /> sale price $1,532,500 <br /> triple net lease $1.63 / square foot <br /> • Plant 9 (3.56 acres) <br /> sale price $462,500 <br /> triple net lease $1.73 / square foot. <br /> Also, approved on November 22, 2011 was <br /> the authorization to publish the Notice of <br /> Intended Disposition of Property (Notice), <br /> with publication dates of December 2 and <br /> December 9, 2011. The Notice was <br /> published on those dates, and December 27, <br /> 2011 was set as the date bids were to be <br /> opened. December 27, 2011 began the 30 <br /> day period during which no negotiated deals <br /> 14 <br />