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(~4(Z) <br />~ ~ SODTH BF. <br />O~ ~N11jIIliJ~/i J~. <br />F~\ \ ,~„///~ <br />Community & Economic Development .~ ~. °;a <br />1865 ~ <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: Res. No. 2633 -Acquisition Offer for 531 W. Indiana Ave. <br />Date: March 19, 2010 <br />This is the staff report for the acquisition of 531 W. Indiana Ave. This property was added <br />to the Airport Economic Development Area Acquisition List by Resolution No. 2596 on <br />August 26, 2009. It was added in an effort to clean and clear the southern. boundary of <br />Ignition Park, and to-help stabilize the Rum Village neighborhood to the south. The Rum <br />Village Neighborhood Association strongly supports the redevelopment of this area on the <br />north side of Indiana Avenue. <br />This particular property is a two story, three bedroom single family residence. The property <br />owner would like participate in the. goals of the Commission in its efforts to clean and clear <br />this area, and contacted Staff of their interest in selling this property. <br />Resolution No. 2633 sets the acquisition value of the property at $30,000. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2633, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />