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South Bend Redevelopment Commission <br />f' Regular Meeting — January 7, 2005 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(2) Commission approval requested for <br />Resolution No. 2122 related to acquisition <br />of property in the Airport Economic <br />Development Area. (Bosch Campus) <br />Ms. Hughes reported that Resolution <br />No. 2122 sets the purchase price for three <br />parcels proposed for acquisition by the <br />Commission in furtherance of the Airport <br />Economic Development Area Development <br />Plan. Acquisition of these three properties is <br />necessary in order to complete the assembly <br />of land for the expansion of the Bosch <br />Corporate facility. <br />An offer based on the average of two <br />certified appraisals was submitted to each of <br />these property owners respectively, in <br />response to which they have counter - offered <br />the contract price amounts listed in <br />Attachment A. <br />Eminent domain cannot be used in the <br />Airport Economic Development Area; <br />therefore, all transactions must follow the <br />Commission's voluntary acquisition policy. <br />It has been determined that the nature of this <br />project is such that it warrants the payment of <br />relocation benefits to those who are <br />displaced. However, two of these property <br />owners wish to waive their right to relocation <br />benefits, as they are elderly and wish to make <br />living arrangements with family members. <br />Staff has worked closely with both property <br />owners to ensure this is the right decision for <br />them. <br />Staff recommends that it is in the mutual <br />ILinterest of the property owners and the <br />