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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –October 23, 2009 <br /> <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />B. South Bend Central Development Area <br /> <br />(1) continued… <br /> <br />Design Studio, LLC for 117-131 Michigan <br />Street, subject to final legal review. <br /> <br /> <br /> C. Airport Economic Development Area <br /> <br />(1) Resolution No. 2609 related to acquisition <br />of property in the Airport Economic <br />Development Area. (1508 S. Taylor) <br /> <br />Mr. Relos noted that 1508 S. Taylor was <br />added to the Airport Economic Development <br />Area Acquisition List by Resolution <br />No. 2596 on August 26, 2009. It was added <br />in an effort to clean and clear the southern <br />boundary of Ignition Park, and to help <br />stabilize the Rum Village neighborhood to <br />the south. The Rum Village Neighborhood <br />Association strongly supports the <br />redevelopment of this area on the north side <br />of Indiana Avenue. <br /> <br />This particular property is a one story, two <br />bedroom rental house owned by J&W <br />Properties. The property owner would like to <br />participate in the goals of the Commission in <br />its efforts to clean and clear this area, and <br />contacted staff with his interest in selling this <br />property. <br /> <br />Resolution No. 2609 sets the acquisition <br />value of the property at $35,750 – this being <br />the average value as determined by two <br />independent appraisals. <br /> <br /> <br /> 5 <br /> <br />