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Community & Economic Development <br />SOUTH B� <br />1865 <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46501 -1830 Phone 574/235 -9371 Fax 574/235 -9021 <br />To: Redevelopment Commissioners <br />From: Matthew Sikora, Economic Development Planner <br />Subject: Staff Memo & Declaratory Resolution No. 2932 1 <br />Date: September 13, 2011 <br />Attached to this memorandum for consideration is Resolution No. 2932, which is a <br />Declaratory Resolution to amend the Development Plan for the South Bend Central <br />Development Area (SBCDA). This Declaratory Resolution begins the process to <br />amend the Development Plan to allow for the acquisition of the property located at 318 <br />E. Colfax Avenue (former Wharf Restaurant). This property has already been <br />assessed and its potential acquisition found to be consistent with the goals and <br />objectives of the East Bank Village Master Plan. <br />Staff has recently been made aware of the current owner's interest in selling the <br />property, and in order to be responsive and in a position negotiate in a timely manner it <br />will be necessary to add it to the acquisition list. Based on preliminary discussions the <br />expected cost for the acquisition of this property is approximately $750,000. Approval <br />of this Resolution does not commit the Redevelopment Commission to acquire the <br />property at this amount. <br />Upon approval by the Commission, resolutions will be put before the Area Plan <br />Commission and Common Council for their approval, before a Public Hearing and <br />Confirming Resolution would be presented to the Commission for final approval. <br />Approval for advertising for the Public Hearing is also requested of the Commission. <br />Advertising would be done after approval from the Common Council is granted. <br />Staff believes it would be of public utility and benefit to amend the Development Plan <br />by adding this property to the acquisition list and allowing its acquisition. Staff <br />requests Commission approval of Resolution No. 2932, and the necessary advertising <br />to carry it forward. <br />What We Do Today Makes A Difference! <br />