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South Bend Redevelopment Commission <br />Regular Meeting -December 7, 2007 <br />6. NEW BUSINESS (CONT.) <br />H. Northeast Neighborhood Development Area <br />(1) continued... <br />The average of the two appraisals was <br />$55,000. This value is for asingle-family <br />occupied house and one parcel of land. <br />Resolution No. 2408 sets the offering price at <br />$55,000 and authorizes a purchase offer to be <br />sent. <br />Upon a motion by Mr. King, seconded by <br />Mr. Blake and unanimously carried, the <br />Commission approved Resolution No. 2408 <br />related to acquisition of property in the <br />Northeast Neighborhood Development Area. <br />(1106 Burns) <br />(2) Commission approval requested for <br />Resolution No. 2409 approving and <br />accepting a counter offer for the <br />acquisition of property in the Northeast <br />Neighborhood Development Area. (1106 <br />Burns) <br />Mr. Schalliol stated staff has negotiated a <br />counter offer for 1106 Burns in the amount <br />of $107,000 plus moving expenses not to <br />exceed $3,000. This property is a key <br />element within the Phase I area of the <br />Triangle redevelopment area. As part of <br />Resolution No. 2409 there is an Assignment <br />of Interest in the purchase agreement. The <br />Redevelopment Commission served as the <br />acquisition partner and did the negotiations <br />for the Northeast Neighborhood <br />Revitalization Organization. The assignment <br />needs to be transferred to the Redevelopment <br />Commission so that the Commission can <br />close on the property. <br />COMMISSION APPROVED RESOLUTION NO. 2408 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />NORTHEAST NEIGHBORHOOD DEVELOPMENT <br />AREA. (1106 BURNS <br />44 <br />