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b (3) <br />me m . rand u r <br />Community & Economic Development r <br />Its <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 <br />To: Redevelopment Commission <br />From: David Relos, Economic Development Planne <br />Subject: Res. No. 2884 — Acquisition Offer for 1513 S Chapin St. <br />Date: June 14, 2011 <br />This is the staff report for the acquisition of 1513 S Chapin St. This property was added to <br />the Airport Economic Development Area Acquisition List by Resolution No. 2668 on May <br />21, 2010. It was added in an effort to clean and clear the southern boundary of Ignition <br />Park, and to help stabilize the Rum Village neighborhood to the south. The Rum Village <br />Neighborhood Association strongly supports the redevelopment of this area on the north <br />side of Indiana Avenue. <br />This particular property is a two story, four bedroom single family residence. The property <br />owner would like participate in the goals of the Commission in its efforts to clean and clear <br />this area, and contacted Staff of their interest in selling this property. <br />Resolution No. 2884 sets the acquisition value of the property at $29,500. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2884, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />