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South Bend Redevelopment Commission <br />Regular Meeting -December 21, 2007 <br />Development Area. (416 S. William St.) <br />Mr. Schalliol noted that 416 and 420 S. <br />William St. were added to the South Bend <br />Central Development Area acquisition list on <br />November 2, 2007 by Resolution No. 2385. <br />Resolution No. 2421 sets the acquisition <br />value of the property at $75,000 and <br />authorizes a purchase offer to be sent to <br />Chris L. Wood in that amount. The property <br />is the former Sons of Israel Synagogue and <br />an adjacent lot, purchased by Mr. Wood in <br />2005 for use as a single family residence. <br />Mr. King made a motion to approve <br />Resolution No. 2421 related to acquisition of <br />property in the South Bend Central <br />Development Area. Mr. Downes seconded <br />the motion. The motion carried on a vote of <br />three to one with Mr. Peczkowski opposed. <br />(2) Commission approval requested for <br />Resolution No. 2422 approving and <br />accepting a counter offer for the <br />acquisition of property in the SBCDA (416 <br />S. William) <br />Mr. Schalliol noted that staff has been <br />negotiating with Mr. Wood to arrive at a <br />counter offer of $130,000. Mr. Wood <br />purchased the former synagogue from <br />Historic Landmarks Foundation for $25,000 <br />after it had been sitting vacant and <br />deteriorating for 20 years. Mr. Wood has <br />spent at least $105,000 over the last two <br />years to stabilize the building. The <br />synagogue parcel sits in the middle of the <br />Coveleski Neighborhood planning area. <br />Under city control, the planning consultants <br />could have a better comfort level when <br />developing recommendations for that part of <br />the planning area. Staff recommends <br />COMMISSION APPROVED RESOLUTION NO. 2421 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA. <br />5 <br />