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South Bend Redevelopment Commission <br />Regular Meeting -December 7, 2007 <br />6. NEW BUSINESS (CONT.) <br />D. South Bend Central Development Area <br />(2) Commission approval requested for <br />Resolution No. 2416 approving and <br />accepting a counter offer for the <br />acquisition of property in the South Bend <br />Central Development Area. (520 W. <br />Wayne) <br />Mr. Schalliol noted that Resolution No. 2416 <br />accepts a counter for 520 W. Wayne. After <br />intense negotiations with the property owner <br />concerning the appraised value and the type <br />of appraisals that were done on the property. <br />The property was appraised as a single <br />family residence, although for several years it <br />has been used as a law and business office. A <br />counter offer of $96,000 was proposed by the <br />property owner. The property owner has <br />obtained an appraisal for his property. There <br />will be no relocation and moving expenses <br />added to the agreed price. This property is <br />located north of Western Avenue in the <br />Coveleski neighborhood planning area and in <br />the block where we anticipate the <br />opportunity for some new infill single-family <br />residential units. It has some property that <br />could be subdivided for more than one <br />structure. This property could be the <br />beginning of the Coveleski Neighborhood <br />Project, which could really start developing <br />in the next several weeks. <br />Mr. Downes made a motion to approve <br />Resolution No. 2416 approving and <br />accepting a counter offer for acquisition of <br />property in the South Bend Central <br />Development Area. Mr. Blake seconded the <br />motion. The motion was approved on a vote <br />of four to one with Mr. Peczkowski opposed <br />COMMISSION APPROVED RESOLUTION NO. 2416 <br />APPROVING AND ACCEPTING A COUNTER OFFER <br />FOR ACQUISITION OF PROPERTY IN THE SOUTH <br />BEND CENTRAL DEVELOPMENT AREA (520 W. <br />WAYNE~ <br />35 <br />