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(~ g C <br />~ ~ 4 SpUTB 8~„ <br />p ~~ lii~l~l// '~O <br />,~' ~ /%/i y~ <br />u ~~~\~ 6 <br />Community & Economic Development ~?-~'~:~_~ <br />1200 County-City Building; 227 West Jefferson, South Bend, Indiana 46601-1830 Phone 574/235-9371 Fax 574/235-9021 <br />To: Redevelopment Commission <br />From: David Relos, Economic Development Planner <br />Subject: Update: Tax Sale Acquisition Outcome <br />Date: March 19, 2010 <br />On February 19, 2010, the Commission approved Resolution No.2653, which authorized <br />an addendum to the Master Agency Agreement with the Board of Public Works to allow <br />staff to try to purchase 30 parcels that were on the County Commissioner's tax sale list. <br />This addendum authorized a not to exceed amount of $250,000. <br />Staff is happy to report that all 30 parcels were purchased, and the amount spent was a <br />little less than $42,000. <br />Of these 30 parcels, 24 of them are along Indiana Avenue, and are in the process of being <br />added to the acquisition list. The original estimated cost of acquisition for these 24 <br />properties (twelve vacant lots and twelve with buildings) was $660,000. Total spent on <br />these 24 properties was less than $15,000, for an estimated savings of $645,000. <br />Staff wishes to thank the Commission and the Board of Public Works for the approvals <br />necessary to carry out these acquisitions, thereby allowing these cost savings to be <br />recognized. <br />What We Do Today Makes A Difference! <br />