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South Bend Redevelopment Commission <br />Special Meeting — January 18, 2012 <br />6. NEW BUSINESS (CONT.) <br />A. South Bend Central Development Area <br />(2) continued... <br />Mr. Schalliol noted that Resolution No. 3000 <br />sets the acquisition offering price for 11 of <br />the 16 properties proposed for acquisition at <br />$895,125, the average of two MAI certified <br />appraisals. The total amount of property <br />being acquired includes a total of 4.43 acres, <br />one occupied building which contains the <br />Gates Service Center facility and one vacant <br />sales trailer building located on the corner of <br />Lafayette and Western. Four of the <br />properties contained within this resolution <br />are adjacent to the former Schillings property <br />and will allow for a reuse plan for the site to <br />be developed. <br />Upon a motion by Mr. Downes, seconded by <br />Ms. King and unanimously carried, the <br />Commission approved Resolution No. 3000 <br />related to acquisition of property in the South <br />Bend Central Development Area <br />(Transaction 1). <br />(3) Resolution No. 3001 related to acquisition <br />of property in the South Bend Central <br />Development Area (Transaction 2). <br />Mr. Schalliol noted that Resolution No. 3001 <br />sets the acquisition offering price for the two <br />of the remaining five parcels at $552,500, the <br />average of two independent MAI appraisals. <br />The total amount of land being acquired is <br />1.41 acres. They contain the two story <br />former Gates Toyota sales and service <br />building The three remaining parcels <br />proposed to be included with this transaction <br />have been appraised for purchase because <br />COMMISSION APPROVED RESOLUTION NO. 3000 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA <br />(TRANSACTION 1). <br />