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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -July 9, 2010 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(8) Resolution No. 2719 related to acquisition <br />of property in the Airport Economic <br />Development Area. (621 W. Indiana) <br />Mr. Relos noted that 621 W. Indiana is a two <br />story, 1,304 square foot, three bedroom <br />single family residence. Resolution No. <br />2719 sets the acquisition value of the <br />property at $20,250. <br />Upon a motion by Mr. Alford, seconded by <br />Ms. King and unanimously carried, the <br />Commission approved Resolution No. 2719 <br />related to acquisition of property in the <br />Airport Economic Development Area. (621 <br />W. Indiana) <br />(9) Resolution No. 2720 related to acquisition <br />of property in the Airport Economic <br />Development Area (1506 S. Catalpa St.) <br />Mr. Relos noted that 1506 S. Catalpa is a two <br />story, 1,152 square foot, four bedroom single <br />family rental residence. Resolution No. 2720 <br />sets the acquisition value of the property at <br />$21,500. The appraisers who valued this <br />property did so based on both the income and <br />market approaches. They blended their <br />values based on both, to arrive at the average <br />value of $21,500. <br />Upon a motion by Ms. King, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission approved Resolution No. 2720 <br />related to acquisition of property in the <br />Airport Economic Development Area (1506 <br />S. Catalpa St.) <br />COMMISSION APPROVED RESOLUTION NO.2719 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA. (621 <br />W. INDIANA) <br />COMMISSION APPROVED RESOLUTION NO.2720 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA <br />(1506 S. CATALPA ST.) <br />21 <br />