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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –July 9, 2010 <br /> <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br /> (2) Resolution No. 2706 related to acquisition <br />of property in the Airport Economic <br />Development Area (1514 S. Chapin St.) <br /> <br />Mr. Relos explained items 6.B.(2) through <br />6.B.(8). All those properties were added to <br />the Airport Economic Development Area <br />Acquisition List by Resolution No. 2668 on <br />May 21, 2010. They were added in an effort <br />to clean and clear the southern boundary of <br />Ignition Park, and to help stabilize the Rum <br />Village neighborhood to the south. The Rum <br />Village Neighborhood Association strongly <br />supports the redevelopment of this area on <br />the north side of Indiana Avenue. In all <br />cases, the acquisition offer is set as the <br />average value of two independent appraisals. <br /> <br />Mr. Relos noted that 1514 S. Chapin is a two <br />story, three bedroom single family residence. <br />Resolution No. 2706 sets the acquisition <br />value of the property at $23,500. <br /> <br />CRN.2706 <br />Upon a motion by Mr. Alford, 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. 2706 <br />(1514S.CS.) <br /> HAPIN T <br />related to acquisition of property in the <br />Airport Economic Development Area (1514 <br />S. Chapin St.) <br /> <br /> <br />(3) Resolution No. 2707 related to acquisition <br />of property in the Airport Economic <br />Development Area (823 W. Indiana Ave.) <br /> <br />Mr. Relos noted that 823 W. Indiana is a <br />vacant lot at the northeast corner of Indiana <br />Avenue and Catalpa Street. Resolution <br />No. 2707 sets the acquisition value of the <br />property at $2,450. <br /> 18 <br /> <br />