6C(4) Resolution No. 2801 - Laserfiche WebLink

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F SpUTH B • r a n • u m o qlgi "JF'�o Community & Economic Development�,� 1865 - 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 Plannero, . Subject: Res. No. 2801 — Acquisition Offer for 755 S. Michigan St. Date: November 19, 2010 This is the staff report for the acquisition of 755 S. Michigan St. This property was added to the Airport Economic Development Area Acquisition List by Resolution No. 2736 on August 20, 2010. It was added in an effort to assist the Center for Homeless in its need for parking and future expansion needs. Upon acquisition of this property, it would be donated to the Center for Homeless for these needs. This particular property consists of a one story, office / general commercial building, constructed in 1959 of concrete block with a brick facade. Total gross building area is 2,790 square feet, with land area of 6,890 square feet (0.158 acres). The back 3,430 square feet of this property is asphalt paved parking. The building at the time of its appraisal (July 2010) was owner occupied. Resolution No. 2801 sets the acquisition value of the property at $82,500. The acquisition value is the average value as determined by two independent appraisals. Staff requests approval of Resolution No. 2801, to allow for the acquisition of this property. What We Do Today Makes A Difference!