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South Bend Redevelopment Commission <br /> Regular Meeting—April 26, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> C. South Bend Central Development Area <br /> (2) continued... <br /> appraisals for Commission owned property in <br /> Monroe Park. <br /> D. Airport Economic Development Area <br /> (1) Resolution No. 2872 approving and <br /> accepting a counteroffer for the <br /> acquisition of property in the Airport <br /> Economic Development Area (1504-1514 <br /> Prairie Ave.) <br /> Mr. Relos noted that on April 12, 2011, the <br /> Commission approved Resolution No. 2867, <br /> which set the offering price for the Prairie <br /> Salvage property at $63,950, the average of <br /> two independent appraisals. <br /> The owners of this property have made a <br /> counter offer of$104,000. They feel this <br /> value is a more appropriate value for their <br /> long standing business location, which <br /> includes three parcels of land, a house (922 <br /> square feet, in good condition, with full <br /> basement), and various retail and storage <br /> buildings (total of 7,200 square feet under <br /> roof). The land value alone of these <br /> properties appraised at $32,000. <br /> In addition to the acquisition price of <br /> $104,000 for this property, relocation and <br /> moving expenses of$246,000 are needed, <br /> broken down as follows: <br /> • $65,000 to move large amounts of <br /> fabric, equipment, shelving, etc, and <br /> store and set up at the new location <br /> 12 <br />