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South Bend Redevelopment Commission <br />Regular Meeting —April 12, 2011 <br />Plan List of Properties to be Acquired. <br />(Former Target Store, LaSalle Square) <br />(6) Resolution No. 2867 related to acquisition <br />of property in the Airport Economic <br />Development Area (1514 S. Prairie, <br />Prairie Salvage) <br />Mr. Relos noted that 1504 — 1514 Prairie <br />Ave. was added to the Airport Economic <br />Development Area Acquisition List by <br />Resolution No. 2668 on May 21, 2010. It <br />was added in an effort to clean and clear the <br />southern boundary of Ignition Park, and to <br />help stabilize the Rum Village neighborhood <br />to the south. The Rum Village <br />Neighborhood Association strongly supports <br />the redevelopment of this area on the north <br />side of Indiana Avenue. <br />This particular property consists of three <br />parcels. The primary piece of this property is <br />the Prairie Salvage store, which sells <br />upholstery and reupholsters furniture. The <br />northerly parcel is 48' x 86', and contains a <br />1,896 square foot garage and attached <br />workshop. The mid parcel is 45' x 106', and <br />contains a 922 square foot single family <br />residence. The southern parcel is 97' x 86', <br />and contains a 4,016 square foot retail store <br />and a 1,300 square foot separate storage <br />building. The property owner would like to <br />participate in the goals of the Commission in <br />its efforts to clean and clear this area, and <br />contacted Staff with their interest in selling <br />this property. <br />Resolution No. 2867 sets the acquisition <br />value of the property at $63,950. The <br />acquisition value is the average value as <br />determined by two independent appraisals. <br />16 <br />