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South Bend Redevelopment Commission <br />Regular Meeting –December 17, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />A. South Bend Central Development Area <br /> <br />(1) continued… <br /> <br />cost $327,000, but the owner is only asking <br />the Commission to pay $235,000 of that. <br /> <br />Mr. Varner said that this seems to be a rather <br />expensive piece to a larger puzzle that he <br />already thought was excessive. He said he <br />was not inclined to support it. <br /> <br />Ms. King asked, then, if Michiana Lock and <br />Key will end up with a remodeled building <br />for $200,000 and $65,000 in its pocket. Mr. <br />Relos responded that relocation costs for a <br />business frequently amount to more than a <br />building is actually worth. There are <br />modifications that need to be made to make <br />the building suit the businesses needs as well <br />as the old building did. <br /> <br />Ms. King noted that the Commission has <br />guidelines with regard to residential <br />relocation. She asked there are the same for <br />businesses. Mr. Relos responded that there <br />are. The Relocation Act calls for very <br />limited relocation costs, approximately <br />$10,000 or $20,000. Relocation costs for <br />businesses are always much more than that. <br />That is why staff asks for Administrative <br />Settlements. <br /> <br />Mr. Downes asked what prevented the <br />acquisition of this property back in 1985. <br />Mr. Relos responded that the owner was not <br />willing to sell. At their current site they have <br />a corner lot with a large parking area. They <br />wanted the same type of arrangement which <br />could not be found. Those requirements are <br /> 7 <br /> <br />