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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –July 9, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br /> <br />(8) Resolution No. 2719 related to acquisition <br />of property in the Airport Economic <br />Development Area. (621 W. Indiana) <br /> <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 /> <br />CRN.2719 <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.(621 <br />IRPORT CONOMIC EVELOPMENT REA <br />Commission approved Resolution No. 2719 <br />W.I) <br /> NDIANA <br />related to acquisition of property in the <br />Airport Economic Development Area. (621 <br />W. Indiana) <br /> <br /> <br />(9) Resolution No. 2720 related to acquisition <br />of property in the Airport Economic <br />Development Area (1506 S. Catalpa St.) <br /> <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 /> <br />CRN.2720 <br />Upon a motion by Ms. King, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />Mr. Alford and unanimously carried, the <br />AEDA <br />IRPORT CONOMIC EVELOPMENT REA <br />Commission approved Resolution No. 2720 <br />(1506S.CS.) <br /> ATALPA T <br />related to acquisition of property in the <br />Airport Economic Development Area (1506 <br />S. Catalpa St.) <br /> <br /> 21 <br /> <br />