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G C ( z) <br />$pUTH <br />AAIi ill;/ <br />Community & Economic Development <br />• , 5 <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 <br />To: Redevelopment Commission <br />From: David Relos, Economic Development Planner' <br />Subject: Res. No. 3015 — Acquisition Offer for 725 — 731 W. Indiana <br />Date: April 10, 2012 <br />This is the staff report for the acquisition of 725 — 731 W. Indiana. This property was added <br />to the Airport Economic Development Area's Acquisition List by Resolution No. 2668 on <br />May 21, 2010. It was added in an effort to clean and clear the southern boundary of <br />Ignition Park, and to help stabilize the Rum Village neighborhood to the south. The Rum <br />Village Neighborhood Association strongly supports the redevelopment of this area on the <br />north side of Indiana Avenue. <br />This particular property is a double vacant lot at the northwest corner of Kendall and <br />Indiana. The property owner would like to participate in the goals of the Commission to <br />clean and clear this area. <br />Resolution No. 3015 sets the acquisition value of the property at $5,900. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 3015, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />