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South Bend edevelop meat Commission <br />Regular Meeting - October 27, 1989 <br />6. NEW BUSINESS (Cont.) <br />f. continued... <br />The <br />Mrs. Kolata noted that four of the <br />parcels have structures on them and <br />prcnide rental income. The fifth parcel <br />is a. vacant lot. RuzkmTski Properties <br />is the owner of all of these properties. <br />They have provided information from an <br />app isal they had done when they <br />obtained financing to purchase the <br />prorerties. Also, one property was <br />rented for more than anticipated when our <br />appiaiser prepared his appraisal. With <br />tha information, one of our appraisers <br />reassessed the information and talked <br />with the appraiser who did the <br />Ruz ki's appraisal. <br />Our original purchase offer to Ruzkowski <br />Properties was $65,990 for all five <br />properties. The counter offer is for <br />$72,590. The staff recnds that the <br />Ccunission accept the counter offer based <br />on adjusting our appraisal to the higher <br />level being received from the <br />p and the fact that it then does <br />not eave much difference between our <br />off and the counter offer. <br />Mr. Piasecki asked what the difference is <br />between the offers. Mrs. Kolata <br />responded that our adjusted offer would <br />be $67,990, making the difference $4,600. <br />Upon a motion by Mr. Doncho, seconded by COMMIISSION AUTHORIZED ACCEPTANCE <br />Mr. Piasecki and unanimously carried, the OF THE COUNTER OFFER FROM <br />CamLssion authorized the acceptance of IMKOWSKI PRO . IF. OF $72,590 <br />the ter offer from Ruzkowski FOR PARCELS M9 -12, M9 -14, M9 -15, <br />p ies of $72,590 for parcels M9 -12, M9 -16, AND M9 -18 <br />ND-14, M9 -15, M9 -16, and M9 -18. <br />fission agreed to reschedule the <br />10, 1989, Regular Meeting to <br />17, 1989, at 10:00 a.m. <br />-20- <br />NEXT COMMISSION MEETING <br />