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(c C (-7) <br />SOUTH 6 <br />Community & Economic Development <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 QQ <br />From: David Relos, Economic Development Planner(,,�k. <br />Subject: Res. No. 2794 — Acquisition Offer for 1514 S. Scott St. <br />Date: November 02, 2010 <br />This is the staff report for the acquisition of 1514 S. Scott St. This property was added to <br />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. The first floor is owner occupied, with the <br />second floor being a rental. Total square footage is 1,364. Both floors are one bedroom <br />and one bath. The main floor consists of 704 square feet; the second floor consists of 660 <br />square feet. <br />The property owner would like to 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. 2794 sets the acquisition value of the property at $25,500. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2794, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />