10-02-09 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Regular Meeting –October 2, 2009 6. NEWOLD BUSINESS (CONT.) B. South Bend Central Development Area (3) continued… parcel, the Redevelopment Commission would own all but three parcels on this block. CRN.2602 Upon a motion by Mr. Varner, seconded by OMMISSION APPROVED ESOLUTION O RELATED TO ACQUISITION OF PROPERTY IN THE Mr. Downes and unanimously carried, the SBCDA. OUTH END ENTRAL EVELOPMENT REA Commission approved Resolution No. 2602 (F’SLLC) REDS HOPS related to acquisition of property in the South Bend Central Development Area. (Fred’s Shops LLC) (4) Resolution No. 2603 approving and accepting a counter offer for the acquisition of property in the South Bend Central Development Area (Fred’s Shops LLC) Mr. Schalliol noted that a counter offer in the amount of Two Hundred and Fifty Thousand Dollars ($250,000.00), with an additional amount of Twelve Thousand Five Hundred Dollars ($12,500.00) for relocation has been submitted by Fred’s Shops. After reviewing the appraisal information (high appraisal value at $240,000), the current tax assessment value ($247,500) and values paid in this area ($10.25/SF), staff believes the counter offer is reasonable and recommends accepting the counter offer. When acquired, the site will be cleared to facilitate new development in the Coveleski Park Planning Area. CRN. Upon a motion by Mr. Varner, seconded by OMMISSION APPROVED ESOLUTION O RN.2603 ESOLUTION O APPROVING AND Mr. Downes and unanimously carried, the ACCEPTING A COUNTER OFFER FOR THE Commission approved Resolution No. SB ACQUISITION OF PROPERTY IN THE OUTH END Resolution No. 2603 approving and CDA(F’S ENTRAL EVELOPMENT REA REDS HOPS accepting a counter offer for the acquisition LLC) 9