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South Bend Redevelopment Commission <br />Regular Meeting –November 19, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br />(3) continued… <br /> <br />lump sum payment of $30,000. Staff feels <br />the total acquisition cost of $30,000 is <br />reasonable for this property, in light of its <br />size, condition and amenities, and <br />recommends approving the administrative <br />settlement. <br /> <br />C <br />Upon a motion by Ms. King, seconded by <br />OMMISSION APPROVED THE ADMINISTRATIVE <br />$30,000 <br />SETTLEMENT OF FOR ACQUISITION OF <br />Mr. Downes and unanimously carried, the <br />1512S.SS <br /> COTT T <br />Commission approved the administrative <br />settlement of $30,000 for acquisition of 1512 <br />S. Scott St. <br /> <br /> <br />(4) Resolution No. 2801 related to acquisition <br />of property in the Airport Economic <br />Development Area (755 S. Michigan St.) <br /> <br />Mr. Relos noted that 755 S. Michigan St. <br />was added to the Airport Economic <br />Development Area Acquisition List by <br />Resolution No. 2736 on August 20, 2010. It <br />was added in an effort to assist the Center for <br />Homeless in its need for parking and future <br />expansion. Upon acquisition, the property <br />will be donated to the Center for Homeless. <br /> <br />The property consists of a one story, office / <br />general commercial building, constructed in <br />1959 of concrete block with a brick façade. <br />Total gross building area is 2,790 square feet, <br />with land area of 6,890 square feet (0.158 <br />acres). The back 3,430 square feet of the <br />property is asphalt paved parking. The <br />building at the time of its appraisal (July <br />2010) was owner occupied. <br /> <br /> 11 <br /> <br />