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(5 (Z) <br />SOUTH @F <br />o4\lcii';, �e <br />Community & Economic Developments_ ; <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 Planne <br />Subject: Res. No. 2758 — Acquisition Offer for 1017 W. Indiana Ave. <br />Date: September 17, 2010 <br />This is the staff report for the acquisition of 1017 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 one story duplex. Total square footage is 1,580, Unit one is a <br />two bedroom, one bath, with unit two being a one bedroom, one bath. The property owner <br />lives in unit one, with the other being leased. <br />The property owner would like participate in the goals of the Commission in its efforts to <br />clean and clear this area, and contacted Staff of their interest in selling this property. <br />Resolution No. 2758 sets the acquisition value of the property at $27,500. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2758, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />