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South BE <br />Regular <br />6. NEW <br />C. <br />Q <br />e. <br />end <br />Redevelopment Commission <br />Me <br />ting - November 22, 1985 <br />BUSINESS <br />(Cont. <br />continued... <br />Mr. <br />Hunt noted both programs are federally <br />funded. <br />The main difference between the two <br />types <br />of homesteads is that the Urban <br />Homesteads <br />require a five year occupancy and <br />th <br />Local Homesteads require a three year <br />occupancy <br />before the deed is delivered to th <br />recipient. <br />Upon <br />a motion made by Mr. Donoho, seconded b <br />Mr. <br />Piasecki and unanimously carried, the <br />Conmission <br />approved Homesteading Agreements ; <br />listed <br />above. <br />Corimission <br />approval requested for Proclaimer <br />Certificate <br />No. 2 relative to establishment <br />fair <br />market value of property to be acquired <br />in <br />the South Bend Central Development Area. <br />Mr. <br />Hunt explained that the parcels in <br />question <br />were reviewed and appraised by two <br />qualified, <br />independent professional real <br />estate <br />appraisers. The appraisers submitted <br />written <br />reports to Redevelopment which were <br />re <br />iewed under certain guidelines by the <br />Redevelopment <br />staff and an internal review <br />ap <br />riasal report has been presented. All th, <br />appraisals <br />done by the independent appraiser; <br />were <br />found to be reasonable and within the <br />DeEartment <br />of Redevelopment's criteria and <br />guidelines. <br />Based upon those appraisals the <br />staff <br />has established the fair market value <br />for <br />each parcel within the South Bend Centra <br />Development <br />Area. The parcels in question a'. <br />relate <br />to the proposed baseball stadium <br />project. <br />Upon <br />a motion made by Ms. Auburn, seconded b, <br />Mr. <br />Piasecki and unanimously carried, the <br />ConnLission <br />approved Proclaimer Certificate N( <br />2 xelative <br />to the establishment of fair mark( <br />value <br />of property to be acquired in the Soutl <br />Be rd <br />Central Development Area. <br />Coirm.ission <br />approval requested for Resolution <br />No. <br />753 relating to acquisition of 2roperty <br />located <br />within the South Bend Central <br />De-,;elopment <br />Area by eminent domain. <br />-4- <br />as <br />Df <br />COMMISSION APPROVED <br />HOMESTEADING AGREEMENTS AS <br />LISTED' ABOVE <br />COMMISSION APPROVED PRO - <br />CLAIMER CERTIFICATE NO. 2 <br />�. RELATIVE TO THE ESTABLISH - <br />Dt MENT OF FAIR MARKET VALUE <br />Z OF PROPERTY TO BE ACQUIRED <br />IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA <br />