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South Bend edevelopment Commission <br />Regular Mee ing - July 27, 1990 <br />6. NEW BUSUME, (Cont.) <br />M. <br />Mrs Kolata explained that Resolution <br />No. 955 authorizes the staff to send <br />puntiase offers to the property owners <br />listed on the attachment. She noted that <br />the resolution authorizes a condemnation <br />pLmtlase offer, which means that, if the <br />p owners do not reach agreement on <br />the price with the Commission within a <br />certain period, the commission may move <br />fonrard by condemnation. <br />Mrs Kolata noted that the list does not <br />contain all of the properties that <br />appored on the acquisition list. After <br />rev ewing the preliminary environmental <br />report, we feel confident that these <br />properties present limited environmental <br />risk. We may find some asbestos in the <br />houses, as well as some above ground <br />storage tanks (such as heating oil tanks <br />in ts). We will have to follow <br />app riate environmental procedure to <br />care of these hazards. There does <br />not seem to be evidence of other <br />env rmental problems. <br />Mrs Kolata noted that the property <br />values seem low. We asked the appraisers <br />to review the appraisals they did one <br />year ago to see if they needed to update <br />th . The earlier values have held. <br />These low values are an indication that <br />hou.c es are not being bought and sold in <br />that neighborhood. There are relocation <br />benefits to help make up the difference <br />bet,veen what the value of the property in <br />the Studebaker Corridor is worth and what <br />a ccuparable property would be worth <br />scnxwhere else in the city. She <br />explained that we will be working with <br />the tenants and the owner /occupants on <br />-15- <br />