LEGAL NOTICE

The City of Terre Haute Department of Redevelopment (the "Redevelopment Commission") has determined that the real estate described below should be sold in accordance with Indiana Code § 36-7-14-22 and is soliciting sealed offers for the purchase and redevelopment of the real estate.

The minimum offering price shall be Five Hundred Thirty-Five Thousand Five Hundred Dollars ($535,500.00), which is equal to the average of the two appraisals obtained by the Redevelopment Commission for the real estate. In addition, the successful offeror shall be required to invest at least Ten Million Dollars ($10,000,000.00) in the construction of improvements on the real estate within twelve (12) months following the transfer of title and shall provide security, satisfactory to the Redevelopment Commission, guaranteeing those obligations, including the right of the Redevelopment Commission to repurchase the real estate for the purchase price paid if the required improvements have not been substantially completed within twelve (12) months after conveyance.
Each offer shall include: (1) the offering price; (2) the proposed use of the real estate; (3) the proposed amount of investment in improvements to be located on the real estate; (4) the time within which the proposed improvements will be completed; (5) a schematic design of the proposed improvements; and (6) confirmation of the offeror's financing for the proposed project.

An Offering Sheet, maps and plats showing the location of the real estate, and a proposed Purchase Agreement are available for inspection and copying at the Department of Redevelopment, 900 Wabash Avenue, Suite 201, Terre Haute, Indiana 47807.
Sealed offers shall be submitted to the Department of Redevelopment, 900 Wabash Avenue, Suite 201, Terre Haute, Indiana 47807, no later than 4:00 p.m. (local time) on September 16, 2026. Offers may be delivered in person or by mail but must be received no later than the stated date and time. Late offers will not be accepted. All offers shall remain open for a period of sixty (60) days.

The real estate will be conveyed as a single redevelopment site by quitclaim deed, subject to all easements, covenants, and restrictions of record.

The real estate consists of the following parcels (legal descriptions to be provided at the time of execution of the Purchase Agreement):

Parcel No. 84-06-22-379-003.000-002
Parcel No. 84-06-22-379-013.000-002
Parcel No. 84-06-22-379-027.000-002
 
The real estate may not be sold to a person who is ineligible under Indiana Code § 36-1-11-16. Any offer submitted by a trust (as defined in Indiana Code § 30-4-1-1(a)) shall identify each beneficiary of the trust and each settlor empowered to revoke or modify the trust.
Upon receipt of the offers, the Redevelopment Commission may proceed to sell the real estate in the manner provided by Indiana Code § 36-7-14-22.

Offers will be opened at a public meeting of the Redevelopment Commission at 3:59 p.m. (local time) on September 16, 2026, at 900 Wabash Avenue, Suite 201, Terre Haute, Indiana 47807, and shall thereafter be open to public inspection.

The Redevelopment Commission reserves the right to reject any or all offers and to accept the offer determined to be the highest and best. In determining the highest and best offer, the Redevelopment Commission shall consider, among other things, the following factors: the size and character of the improvements proposed by the offeror; the offeror's plans and ability to complete the proposed improvements with reasonable promptness; whether the improved real estate will be sold or leased; the proposed sale or rental prices; compliance with the statutory trust disclosure requirements; and any factors demonstrating that the sale will further the Redevelopment Commission's redevelopment plan and best serve the interests of the community from the standpoint of both human and economic welfare.

The Redevelopment Commission may enter into a development agreement with the successful offeror containing such terms as it deems appropriate, including, without limitation, performance security, good-faith deposits, liquidated damages, repurchase rights, and other remedies in the event of default.

The real estate is being conveyed "AS IS," "WHERE IS," and "WITH ALL FAULTS." The Redevelopment Commission makes no express or implied representations, warranties, promises, covenants, agreements, or guarantees of any kind concerning the real estate, including, without limitation, the status of title, the condition or suitability of the real estate for any purpose, the existence of environmental conditions, or the presence or absence of hazardous substances, hazardous waste, petroleum products, asbestos, or any other regulated materials. The Offering Sheet includes an Environmental Conditions and Obligations document. The terms of that document shall be incorporated into every offer, and each offer shall include an acknowledgement that the purchaser is acquiring the real estate subject to those terms.

For further information regarding the offering, contact Jordan Marvel at Jordan.Marvel@TerreHaute.IN.Gov

Dated: August 12, 2026

Terre Haute Department of Redevelopment