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South Bend Redevelopment Commission <br />Regular Meeting –January 15, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />D. Airport Economic Development Area <br /> <br />(4) continued… <br /> <br />value as determined by two independent <br />appraisals. <br /> <br />CRN.2641 <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />Ms. King and unanimously carried, the <br />AEDA <br />IRPORT CONOMIC EVELOPMENT REA <br />Commission approved Resolution No. 2641 <br />(1506ST) <br /> AYLOR <br />related to acquisition of property in the <br />Airport Economic Development Area (1506 <br />S Taylor) <br /> <br /> <br />(5) Resolution No. 2642 approving and <br />accepting a counter offer for the <br />acquisition of property in the Airport <br />Economic Development Area (1506 S <br />Taylor) <br /> <br />Mr. Relos noted that the owner has made a <br />counter offer in the amount of $48,000. The <br />property owner had a licensed realtor do a <br />comparative market analysis for homes that <br />had sold in their neighborhood. This analysis <br />compared three similar homes that had sold <br />in the last year, with a median sales price of <br />$48,500. <br /> <br />In addition, the owner would like $4,000 in <br />relocation costs. The house and garage at <br />this property are very full, and this amount is <br />less than if a mover were hired to pack, <br />move, and unpack its contents. <br /> <br />Commissioners were surprised at the <br />discrepancy between appraisals. Mr. Relos <br />noted that there is also great discrepancy <br />between the appraisals and assessed values, <br />supposedly reflective of the market. <br /> 30 <br /> <br />