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12-17-10 Redevelopment Commission Minutes
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12-17-10 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting –December 17, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />B. Airport Economic Development Area <br /> <br />(5) continued… <br /> <br />income stream, the value at a 10% cap rate <br />equals $100,600, for a premium paid of <br />approximately 14%. Staff recommends <br />approval of an Administrative Settlement in <br />the amount of $37,000 for a total purchase <br />price of $115,000. <br /> <br />CA <br />Upon a motion by Mr. Varner, seconded by <br />OMMISSION APPROVED THE DMINISTRATIVE <br />S1534-1536PA. <br />ETTLEMENT FOR RAIRIE VE IN <br />Ms. King and unanimously carried, the <br />$37,000 <br />THE AMOUNT OF <br />Commission approved the Administrative <br />Settlement for 1534-1536 Prairie Ave. in the <br />amount of $37,000. <br /> <br /> <br />C. West Washington-Chapin Development Area <br /> <br /> <br /> <br />There was no business in the West Washington- <br />Chapin Development Area. <br /> <br /> <br /> D. South Side Development Area <br /> <br /> <br />(1) Resolution No. 2802 approving and <br />authorizing the execution of an Addendum <br />to the Master Agency Agreement (4215 S. <br />Main St., Demolition Planning Project) <br /> <br />Mr. Relos noted that the Commission <br />acquired a vacant house at 4215 S. Main <br />Street earlier this fall and would like to <br />demolish it before winter. Christopher Burke <br />Engineering has submitted a proposal to do <br />the asbestos reporting, preparation of <br />demolition specifications, and demolition <br />quoting for a fee of $3,140. Resolution <br />No. 2802 approves an Addendum to the <br />Master Agency Agreement with the Board of <br />Public Works to administer that contract. <br /> 14 <br /> <br />
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