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South Bend Redevelopment Commission <br />Regular Meeting — August 9, 2011 <br />(6) Administrative Settlement for 1521 -1527 <br />S. Kendall Street. <br />Mr. Relos noted that the owners of 1521- <br />1527 S. Kendall Street have made a counter <br />offer to the Commission's offer of $25,000. <br />They wish to receive a lump sum payment of <br />$50,000 that includes the purchase price and <br />relocation costs. This property was built as <br />an automotive garage, and is currently being <br />used for auto storage. Since the property is <br />similar to 1520 — 1526 S Chapin St. on <br />today's agenda, staff assumes the relocation <br />costs would also amount to at least $69,900. <br />Staff, therefore, feels this lump sum <br />administrative settlement of $50,000 is <br />reasonable for this property and its two <br />parcels of land, and requests your approval of <br />the administrative settlement. <br />Upon a motion by Mr. Alford, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Administrative <br />Settlement for 1521 — 1527 S. Kendall Street. <br />(7) Resolution No. 2926 related to acquisition <br />of property in the Airport Economic <br />Development Area (622 E. Sample Street). <br />Mr. Sikora noted that 622 E. Sample Street <br />was added to the Airport Economic <br />Development Area Acquisition List by <br />Resolution No. 1839 on July 20, 2001. It <br />was added as part of an effort to create a site <br />for a proposed expansion of South East <br />Neighborhood Park. This particular property <br />is a two- story, 1,806 square foot, three - <br />bedroom single family residence. The <br />property owner contacted Staff of their <br />interest in selling this property. Resolution <br />No. 2926 sets the acquisition value of the <br />property at $27,000, the average value as <br />011 <br />COMMISSION APPROVED ADMINISTRATIVE <br />SETTLEMENT FOR 1521 - 1527 S. KENDALL <br />STREET. <br />