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(~~(!L~ <br />• • 4 sourx g~ <br />o ~lyi~ifrJn o <br />~,' \ ~ /~~ <br />U ~~ii 0 <br />Community & Economic Development ~ ~~ ~',,~' <br />~ , 1865 R <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. 2734 -Acquisition Offer for 733 W. Indiana Ave. <br />Date: July 23, 2010 <br />This is the staff report for the acquisition of 733 W. Indiana Ave. This property was added <br />to the Airport Economic Development Area Acquisition List by Resolution No. 2668 on May <br />21, 2010. It was added in an effort to clean and clear the southern boundary of Ignition <br />Park, and to help stabilize the Rum Village neighborhood to the south. The Rum Village <br />Neighborhood Association strongly supports the redevelopment of this area on the north <br />side of Indiana Avenue. <br />This particular property is a two story, three bedroom single family rental residence. The <br />property owner would like to participate in the goals of the Commission in its efforts to clean <br />and clear this area, and contacted Staff of their interest in selling this property. <br />Resolution No. 2734 sets the acquisition value of the property at $24,500. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2734, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />