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L -� ( (,) <br />o� S ° <br />r, <br />Community & Economic Development <br />1865 <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 Planner <br />Subject: Res. No. 2782 — Acquisition Offer for 627 W. Indiana Ave. <br />Date: October 15, 2010 <br />This is the staff report for the acquisition of 627 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 two story residence which is owner occupied. Total square <br />footage is 1,502. It contains 4 bedrooms, 1 bath, with a back deck , fenced yard, and two <br />car garage. <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. 2782 sets the acquisition value of the property at $34,750. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2782, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />