Request to Advertise - Sale of City Owned Property - 1007 W Oak

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NOTICE TO ABUTTING PROPERTY OWNER SALE OF CITY -OWNED PROPERTY Notice is hereby given that the City of South Bend, Indiana, through its Board of Public Works, is offering for sale the following parcel of real estate located in South Bend, Indiana. Address: 1007 W. Oak St. Parcel No. 018-1033-1462 Legal Description: 66 FT S END LOT 19 WILLIAM MILLERS ADD This parcel is being sold under Indiana Code 36-1-11-5, where authority is granted to the Board of Public Works to sell adjacent parcels of land to homeowners with properties in good standing, who may wish to acquire that property, all in the best interest of the City. You are receiving this notice as an abutting property owner. The Board of Public Works has determined that the highest and best use of the adjacent property is its sale to an abutting land owner — the parcel is approximately 0.07 acres, a configuration that appears to best be suitable for use by an abutting landowner which offers an opportunity to consolidate adjacent parcels that have common ownership; and the cost to the public of maintaining the tract over its lifetime equals or exceeds the estimated fair market value of the tract. The tract's assessed value is $1,700.00 for property tax purposes. The minimum calculated offering price is $1,350.00. Bidders will also be responsible for the costs of advertising and recording upon a successful negotiation and sale of the tract. The estimated cost of advertising is $140.00, title insurance is estimated at $150.00, a sales disclosure form is estimated at $10.00, transferring is estimated at $5.00, and recording is estimated at $26.00. This parcel may not be sold to a person who owes delinquent taxes, special assessments, penalties, interest or cost directly attributable to a prior tax on a tract of real property listed under Indiana Code 6-1.1-24-1. An offer to purchase the parcel that is submitted by a trust must indentify each beneficiary of the trust and settler empowered to evoke or modify the trust. Bids to purchase said parcel must include price bid for the property plus an explanation of the bidder's intended use of the property and be received in the office of the Board of Public Works, 1316 County -City Building, South Bend, Indiana on or before: (Insert Date & Time Bids are due) BOARD OF PUBLIC WORKS Linda Martin, Clerk