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South Bend evelcpment Commission <br />Rescheduled Regular Meeting - June 27, 1990 <br />6. NEW BUSU S (Cont.) <br />a. conzinuea... <br />Lewis: Ruth Lewis, 1113 <br />ette. Did I understand you to say <br />the relocation fee and the assessed <br />are the same? <br />Kolata: No. I said that the <br />acpusition price and the relocation are <br />two separate things. They are two <br />separate things. The appraised value is <br />what we will be offering for the <br />property. That's different than what it <br />is assessed for for taxes. It's not the <br />But relocation is totally <br />separate. In his case, he has a <br />building, he owns it, we deal with him <br />to buy the building. But we will deal <br />wi his tenants to relocate them. <br />Every one of his tenants, if there are <br />fair tenants or two tenants, will be <br />re orated by us. The amount of <br />re ovation differs. If you're an owner <br />li ring in a building you get the <br />po tial for more money to help you buy <br />a eplacement building. <br />Mr Dailey: Is it a set amount? <br />Kolata: No, it is not a set <br />unt. There is a maximum amount, but <br />it is based on what is the value of your <br />p perty and what it will cost you to <br />bqr a comparable property. If there's a <br />difference, it's to help you make up the <br />difference. Plus, there are moving <br />costs that are paid for. That depends <br />on how big a house you have, how many <br />r of furniture, and so on. There <br />are options. We'll have to work through <br />it and Hedy works through it with <br />evcmybody that is living in the area. <br />Ms Lewis: I didn't get my letter <br />coocerning my two vacant lots. <br />c. Kolata: The reason that we are <br />y doing part of the properties at <br />-15- <br />