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South Bend Redevelopment Connnission <br />Regular Meeting -0ctober 2, 2009 <br />Mr. Schalliol noted that Resolutions <br />No. 2602 and 2603 relate to property at 501 <br />W. Western Avenue in the Coveleski <br />Neighborhood Planning Area. This parcel <br />was added to the South Bend Central <br />Development Area acquisition list by <br />Resolution No. 2595 on August 26, 2009. <br />Resolution No. 2602 sets the acquisition <br />value for the property at $204,000.00, the <br />average of two qualified appraisals. This <br />value is fora 24,394 SF (+/- .56 acres) lot <br />with one 7,000 SF commercial structure. <br />The parcel sits on the northwest corner of the <br />intersection of Western and William and <br />covers almost the entire southern end of the <br />block area which is designated the Housing <br />Block in the Coveleski Park planning efforts. <br />With a purchase of the Fred's Transmission <br />parcel, the Redevelopment Commission <br />would own all but three parcels on this block. <br />Upon a motion by Mr. Varner, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2602 <br />related to acquisition of property in the South <br />Bend Central Development Area. (Fred's <br />Shops LLC) <br />(4) Resolution No. 2603 approving and <br />accepting a counter offer for the <br />acquisition of property in the South Bend <br />Central Development Area (Fred's Shops <br />LLC) <br />Mr. Schalliol noted that a counter offer in the <br />amount of Two Hundred and Fifty Thousand <br />Dollars ($250,000.00), with an additional <br />amount of Twelve Thousand Five Hundred <br />Dollars ($12,500.00) for relocation has been <br />submitted by Fred's Shops. After reviewing <br />COMMISSION APPROVED RESOLUTION NO. 2602 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA. <br />(FRED'S SHOPS LLC) <br />