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06-04-10 Redevelopment Commission Minutes
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06-04-10 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting –June 4, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />B. Airport Economic Development Area <br /> <br />(2) continued… <br /> <br />together. There are currently two properties <br />in the Ignition Park / West Indiana corridor <br />that are listed for sale by realtors. These <br />properties were added to the acquisition list <br />by a recent amendment to the AEDA <br />Development Plan. <br /> <br />Information on these properties is: <br /> <br />1521 S Scott St <br />3 bedroom, 1 bath, 1,459 sf <br />$10,800 <br /> <br />1520 S Scott St <br />4 bedroom, 1 bath, 1,440 sf, with 1 car <br />garage <br />$7,000 <br /> <br />Acquisition costs for homes in this area were <br />estimated at $35,000 - $60,000. Staff asks <br />for authorization to move forward with the <br />purchase of these two properties at their list <br />prices, which are well below the estimated <br />acquisition costs for dwellings in this area, if <br />the appraisals establish their values equal to <br />or greater than the list prices. <br /> <br />Mr. Relos noted that title work was done <br />recently and the titles are clear. <br /> <br />CRN.2693 <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />Mr. Varner and unanimously carried, the <br />AEDA. <br />IRPORT CONOMIC EVELOPMENT REA <br />Commission approved Resolution No. 2693 <br />(1521S.SS.) <br /> COTT T <br />related to acquisition of property in the <br />Airport Economic Development Area. (1521 <br />S. Scott St.) <br /> 8 <br /> <br />
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