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API South Bend Redevelopment Commission <br />Regular Meeting - October 1, 1993 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />MS. JOCELYN POLACK: Another question, <br />too, though, is that you mentioned about <br />people should start looking, possibly. Well <br />what price range are you telling these people <br />to go out and look at? <br />MS. KOLATA: I'm not telling them to go look <br />today, because we have not sent a purchase <br />offer to anyone. The worst thing that could <br />happen would be for somebody to move <br />before we send a purchase offer. In that <br />case, we would still be purchasing the <br />property, but your eligibility for relocation <br />benefits would be gone. So, I am not saying <br />to anyone, to go out and move at this point. <br />What I'm saying is that once we send the <br />purchase offer, once we start having a <br />purchase offer, then that will give you some <br />clue. Hedy and Gabriel will start meeting <br />with folks about relocation benefits and for <br />an owner in the area who has a house, what <br />you need to consider, in buying a <br />replacement house, is not only the value that <br />we're giving you for your house, but, also, <br />your relocation benefit. For <br />homeowner /occupants in the area, that <br />relocation benefit can be up to $22,500. In <br />addition to that, there are moving costs. So <br />it really will depend, on a case -by -case <br />basis,. Hedy and Gabriel will work that out <br />individually with everyone. Tenants in the <br />property will get a certain amount of <br />relocation. It is not as generous as for <br />owner /occupants. But you have to add those <br />numbers together to determine what can be <br />affordable. There are also limits. We have <br />to look at individuals' incomes and make <br />IPJE <br />