6B (3) - Laserfiche WebLink

Home Browse Search

Potential relocation costs to move this business range from a minimum of $205,000 to $280,000. The attached Relocation Cost Potential compares costs if this business were to be relocated. These relocation costs are very conservative, and likely will be tens of thousands of dollars more (For the relocation of a private club one block to the west, the Building and Fire Departments required $56,290 in improvements alone to the new building.). For comparison purposes, the private club one block away was acquired and relocated one year ago. This club's building on Indiana had an average appraised value of $24,000. In addition, relocation costs totaled $153,290, for total acquisition and relocation costs of $177,290 (this club moved themselves and installed their own bar and fixtures). Earlier this year, Michiana Lock & Key had an average appraised value of $65,000, with $275,000 in relocation costs, for total acquisition and relocation costs of $340,000. Staff believes the administrative settlement of $156,500 ($190,000 less the acquisition cost of $33,500) for this business is reasonable, in light of costs that would be incurred if it were relocated (see attached Buyout vs Relocation), and requests your approval to allow the acquisition and eventual clearance of this property. What We Do Today Makes A Difference!