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~G ~ ~3) UT$ • • o~y 1~ ~i„r ~~to ~; ~ i %, u ~~~~ o Community & Economic Development ~~~, 1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601-1830 Phone 574/235-9371 Fax 574/235-9021 To: Redevelopment Commission From: Bill Schalliol, Economic Development Planner ~~ Subject: Resolution 2709 - 748 Hawbaker Street (Counter Offer) Date: July 30, 2010 Attached to this memorandum is Resolution 2709 which would set the counter-offer acquisition value for 748 Hawbaker Street. The property is located at the corner of Hawbaker and High and was added to the acquisition list for the South Side Development Area as there is value in the property for future infrastructure improvements in the Erskine Plaza area. A map of the parcel is attached. Resolution 2691 set the appraised value for the property at $32,000. The property consists of one unoccupied house and property. Staff has worked with the property owner over the last several months to come to a final value for the parcel and the final counter offer value that both parties generally could agree on was $50,000.00. In the next couple of weeks, the City will put out to bid the Erskine Plaza Pond Project which will rehabilitate and rebuild the stormwater network on the south side. The acquisition of this parcel will allow for a staging area and coordination site for that project. Staff requests approval of Resolution 2709 to set the counter-offer acquisition price for this property and allow for staff to move forward with this acquisition. What We Do Today Makes A Difference!