6C(5) Resolution No. 2793 - Laserfiche WebLink

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-Enyart -Efe ctric Motor Revailr Rewinding and Repairing of Electric Motors - Commercial - Industrial - Domestic 122 East Sample Street South Bend, IN 46601 Phone: 574.288.4731 Fax: 574.282.4860 City of South Bend Redevolpment Commission: October 11,2010 Regarding: 122 E & 124 E Sample St. South Bend In. 46601 On June 17th we sat with David Relos in review of the appraisal of our building at $107,000 and a comparison of how the appraisal of the building previously occupied by the Re -Store was calculated. We understand that certain factors; corner lot, 416 ft of frontage, single ground level made the value per square ft more valuable in that acquisition. The price per square foot paid for that property was $ 25.75. Our properties at 122 E. & 124 E. Sample St. have been toured by staff members from Ivy -Tech on two occasions and at each tour they expressed interest in using both levels of the building. Our building has 55 ft. of frontage on Sample Street and 4 parcels of land that front on Ohio St. The parcels on Ohio Street includes 139 ft. of frontage and a free standing Cement block storage building. There are 2 stairways that allow access to the upstairs, 124 E. Sample St., level; one from each end of the building. When the appraisal was done a price of $ 20.00 per sq. ft was applied to only the ground level, 5200 sq. ft. The upstairs 4000 sq. ft and the 308 sq. ft. of the out building were not considered in the computation.