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South Bend Redevelopment Commission <br />Resdiedule4 Regular Meeting - November 18, 1988 <br />6. NEW ffVINESS (Cont.) <br />f. Continued... <br />g- <br />Kolata explained that not all of the <br />aisal work could be ordered at this <br />since some of it would have to be <br />I for out of bond proceeds. However, <br />appraisers would be notified of the <br />nt to order the remainder of the work <br />would be able to put it on their <br />adul.es so that the appraisals could be <br />as soon as money was available. <br />oximately $75,000 worth of appraisal <br />: would be done immediately. <br />Kolata noted that three Indianapolis <br />aisers were asked for proposals. Two <br />ined to make a proposal because they <br />d need to hire local appraisers and <br />other, Don Sheidt, submitted a <br />osal, but it included expenses which <br />his proposal significantly higher <br />the others. <br />Mr. Piasecki asked what the total cost of <br />the appraisals would be. Mrs. Kolata <br />resoonded that the original proposals <br />frcu the commercial appraisers totalled <br />$23),000. The use of residential <br />appraisers would save approximately <br />$20,000. <br />Mr. Piasecki asked what the life of an <br />appraisal is. Mrs. Kolata responded that <br />an apprai sal could be expected to be <br />accarate for about two years unless there <br />was a significant change in the property. <br />Upori a motion by Ms. Auburn, seconded by <br />Mr. Donoho and unanimously carried, the <br />'ssion approved the rate structure of <br />Jermie Michaels, First Realty of Indiana, <br />Ralph Lauver and Richard McCloskey as <br />weJ4 as Ruth Hoover and Dennis Emerick <br />and to reject the proposal of Don Sheidt. <br />