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South Bend Redevelopment Commission <br />Regular Meeting -March 28, 2008 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(1) Commission approval requested for <br />Resolution No. 2432 related to acquisition <br />of property in the South Bend Central <br />Development Area. (401 West Western, <br />Chevy World Rental Inc.) <br />Mr. Schalliol explained that Resolution <br />No. 2432. is related to eleven properties at or <br />near 401 W. Western. The eleven properties <br />include the current Gates Chevy World <br />building and the adjacent parking lots. Ten <br />of the properties were added to the <br />development area by Resolution No. 2385. <br />The final one was added with Resolution <br />No. 2441 today. The purpose of Resolution <br />No. 2432 is to set the acquisition price of the <br />properties. The appraised value, as <br />established by the average of two qualified <br />appraisers, is $940,862.25. This value <br />includes the three story, 140,320 sft <br />commercial structure and a total of 3.318 <br />acres of property. <br />Mr. Downes made a motion to approve <br />Resolution No. 2432 related to acquisition of <br />property in the South Bend Central <br />Development Area. Mr. Blake seconded the <br />motion. The motion carried on a vote of <br />three to one with Mr. Peczkowski opposed. <br />(2) Commission approval requested for <br />Resolution No. 2433 approving and <br />accepting a counter offer for the <br />acquisition of property in the South Bend <br />Central Development Area (401 West <br />Western, Chevy World Inc.) <br />Mr. Schalliol noted that Resolution No. 2434 <br />approves a counter offer for the same <br />18 <br />COMMISSION APPROVED RESOLUTION NO. 2432 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA <br />