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South Bend Redevelopment Commission <br /> Regular Meeting—May 10, 2011 <br /> 5. OLD BUSINESS (CONT.) <br /> A. Airport Economic Development Area <br /> (1) continued... <br /> this property at $63,950, which is the average <br /> value as determined by two independent <br /> appraisals. He distributed maps showing <br /> where Prairie Salvage is located , where the <br /> Commission currently owns property nearby, <br /> and nearby properties that staff is in the <br /> process of negotiating for and anticipates <br /> acquiring. <br /> The owners of Prairie Salvage have made a <br /> counter offer of$104,000. They feel this <br /> value is more appropriate for their long <br /> standing business location, which includes <br /> three parcels of land: <br /> - a 922 square feet house in good condition <br /> with full basement <br /> - 7,200 square feet of various retail and <br /> storage buildings. <br /> Land value alone for these properties is <br /> $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 /> Mr. Relos said that $246,000 for relocation <br /> and moving expenses may seem high, but <br /> there is a lot of equipment, shelving and <br /> upholstery fabric to be moved and set up: <br /> - $65,000 to move large amounts of fabric, <br /> equipment, shelving, and its set up at the new <br /> location <br /> -$181,000 to acquire and remodel the new <br /> location on State Road 2 just west of town <br /> 6 <br />