07-23-10 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Regular Meeting –July 23, 2010 6. NEW BUSINESS (CONT.) I. Ratification of Services Contracts the Commission’s resolution authorizing staff to execute contracts on the Commission’s behalf. Appraisals are limited to $3,500 for commercial property. Ms. King asked why Michaels Appraisals would charge $4,500 for an appraisal that David Waszak Appraisals charges $2,400 for. Mr. Schalliol responded that it is very difficult to get comparables in that area. Different appraisal companies are willing to make the additional effort for different fees. C Upon a motion by Ms. King, seconded by Mr. OMMISSION ACCEPTED THE PROPOSAL FROM MAS ICHAELS PPRAISAL ERVICES FOR AN Varner and unanimously carried, the Commission 1503PA. APPRAISAL OF RAIRIE VE AT A COST OF accepted the proposal from Michaels Appraisal $4,500 Services for an appraisal of 1503 Prairie Ave. at a cost of $4,500. C Upon a motion by Ms. King, seconded by Mr. OMMISSION RATIFIED THE CONTRACTS J 9,2010 APPROVED BY STAFF SINCE ULY Varner and unanimously carried, the Commission ratified the contracts approved by staff since July 9, 2010. 7. PROGRESS REPORTS PR Mr. Michael Rippey, Kitson & Partners gave an update ROGRESS EPORTS on the performance of Blackthorn Golf Course during the first six months of 2010. At mid-year, the club is well ahead of budget in net operating income. Revenues trail budget, however, due entirely to poor performance in June, which was caused by record rainfall. The revenue shortfall has been more than offset by positive variances on operating expenses. At mid-year Blackthorn’s rounds total is essentially the same as 2009. Kitson put less reliance on discounted rounds, so total revenue from rounds played and food and beverage is about $28,000 more in 2010. The course is spending 22