Laserfiche WebLink
(r ( ( 0 <br />• v,o <br />Community & Economic Development <br />. is . <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 Planner <br />Subject: Administrative Settlement - 1521 — 1527 S Kendall St. <br />Date: August 09, 2011 <br />This is the staff report for the administrative settlement that is needed for the acquisition of <br />1521 — 1527 S. Kendall Street. According to the Uniform Relocation Act (Act), which has <br />been adopted as the Commission's relocation policy, an administrative settlement is <br />authorized in cases where an additional payment is necessary to acquire a property. <br />Before the Commission today was Resolution No. 2925, which authorized the purchase of <br />this property based upon its average appraised value of $25,000. Staff has been working <br />with the property owners to reasonably reach an agreement to acquire this property. <br />The property owners have expressed interest in selling this property, but in lieu of being <br />relocated, instead prefer a lump sum payment. This property was built as a automotive <br />garage, and is currently being used for auto storage. <br />The owners have agreed to sell this property for $50,000. Since this property is similar to <br />1520 — 1526 S Chapin St on today's agenda, it can be assumed that if relocation costs <br />were incurred, they would be similar, with prices beginning at $69,900. <br />Staff feels this lump sum administrative settlement of $50,000 is reasonable for this <br />property and its two parcels of land, and requests your approval of the administrative <br />settlement to allow the acquisition of this property. <br />What We Do Today Makes A Difference! <br />