6D(4) Resolution No 2780 - Laserfiche WebLink

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• 'SOUTEI d Community & Economic Development�s� 1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 To: Redevelopment Commission From: David Relos, Economic Development Planner 01/ Subject: Res. No. 2780 — Acquisition Offer for 1503 — 1505 S. Kemble Ave. Date: October 15, 2010 This is the staff report for the acquisition of 1503 — 1505 S. Kemble Ave. This property was added to the Airport Economic Development Area Acquisition List by Resolution No. 2668 on May 21, 2010. It was added in an effort to clean and clear the southern boundary of Ignition Park, and to help stabilize the Rum Village neighborhood to the south. The Rum Village Neighborhood Association strongly supports the redevelopment of this area on the north side of Indiana Avenue. This particular property is a one story duplex. Total square footage is 1,364. Unit one is a two bedroom, one bath, with unit two being a one bedroom, one bath. The property owner lives in unit one, with the other being leased. The property owner would like participate in the goals of the Commission in its efforts to clean and clear this area, and contacted Staff of their interest in selling this property. Resolution No. 2780 sets the acquisition value of the property at $35,500. The acquisition value is the average value as determined by two independent appraisals. Staff requests approval of Resolution No. 2780, to allow for the acquisition of this property. What We Do Today Makes A Difference!