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10-15-10 Redevelopment Commission Minutes
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10-15-10 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting –October 15, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />D. Airport Economic Development Area <br /> <br />(2) continued… <br /> <br />CA <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED THE MENDMENT TO <br />CBE <br />HRISTOPHER URKE NGINEERING CONTRACT <br />Mr. Varner and unanimously carried, the <br />236SS <br />FOR DEMOLITION OF AMPLE TREET FOR <br />Commission approved the Amendment to <br /> <br />THE FEE PROPOSED <br />Christopher Burke Engineering contract for <br />demolition of 236 Sample Street for the fee <br />proposed <br /> <br /> <br />(3) Administrative Settlement for acquisition <br />of 1513 S. Catalpa St. <br /> <br />Mr. Relos noted that on August 6, 2010 the <br />Commission set the acquisition offering price <br />for 1513 S. Catalpa at $25,700, the average <br />of two independent appraisals. The property <br />is a rental. The income approach values the <br />property at $27,500. The owner would not <br />be able to replace the property at either <br />appraised value. The home is a two-story, <br />three-bedroom, 1,200 sft, home with <br />enclosed front porch, back deck and fenced <br />yard. After much negotiation, the property <br />owner has agreed to accept $35,000, an <br />amount they feel is adequate to replace the <br />property with a similar income producing <br />property. Staff recommends approving the <br />administrative settlement of $9,300. <br /> <br />C <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED THE ADMINISTRATIVE <br />$9,300 <br />SETTLEMENT OF FOR ACQUISITION OF <br />Ms. King and unanimously carried, the <br />1513S.CS. <br /> ATALPA T <br />Commission approved the administrative <br />settlement of $9,300 for acquisition of 1513 <br />S. Catalpa St. <br /> <br /> <br />(4) Resolution No. 2780 related to acquisition <br />of property in the Airport Economic <br />Development Area (1503-1505 S. Kemble <br />Ave.) <br /> 20 <br /> <br />
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