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South Bend Redevelopment Commission <br />Regular Meeting — October 1, 2010 <br />6. NEW BUSINESS (CONT.) <br />D. Airport Economic Development Area <br />(2) Resolution No. 2778 supporting a PUD for <br />Ignition Park. <br />Upon a motion by Mr. Downes, seconded by <br />Ms. King and unanimously carried, the <br />Commission approved Resolution No. 2778 <br />authorizing a change to the zoning of certain <br />real estate located in St. Joseph County, <br />Indiana. <br />(3) Administrative Settlement for acquisition <br />of 521 W. Indiana Ave. <br />Mr. Relos noted that On September 17, 2010, <br />the Commission approved Resolution <br />No. 2761, which authorized the purchase of <br />521 W. Indiana based on the average <br />appraised value of $43,500. Staff has been <br />working with the property owner, within the <br />acquisition and relocation sections of the Act, <br />to reasonably reach an agreement to acquire <br />this property. <br />These property owners are in their 70's, and <br />over the many years they have owned this <br />property, they have fixed it up to the point <br />where nothing else needs to be done. They <br />have found a smaller house that has recently <br />been completely remodeled and is move -in <br />ready. <br />To acquire this house, they may need an <br />additional $5,100. Between the couple's <br />own money and the Commission's <br />acquisition and relocation benefits, this <br />$5,100 would allow them to make an offer on <br />the house for $15,000 less than it is currently <br />listed for. If the offer is accepted by the <br />10 <br />COMMISSION APPROVED RESOLUTION NO. 2778 <br />AUTHORIZING A CHANGE TO THE ZONING OF <br />CERTAIN REAL ESTATE LOCATED IN ST. JOSEPH <br />COUNTY, INDIANA. <br />