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• <br /> • <br /> APPRAISE -ALL <br /> company <br /> August 9, 1988 <br /> Mr. James Masters <br /> Attorney at Law <br /> First Interstate Bank Bldg. <br /> Suite 305 <br /> 112 W. Jefferson Blvd. <br /> South Bend, IN 46601 <br /> Dear Mr. Masters: <br /> At your request, I appraised the property described as <br /> follows: <br /> Clark Drive as recorded in Section 1, Landmark Business <br /> Park. <br /> This is a dedicated unimproved right-of-way being 60 feet in <br /> width (north and south) and 500 feet in length (east and <br /> west) totally 30,000 square feet, plus or minus. In the <br /> Landmark Business Park plat this proposed street was to <br /> provide access from Technology Drive to the vacant land to <br /> the west. The plat has been changed that allows alternate <br /> access. The developer and/or adjacent property owners have <br /> no need or interest in improving Clark Drive. Therefore, <br /> the adjacent properties are requesting a vacation of the <br /> right-of-way. <br /> The South Bend City Ordinance requires that any vacation in <br /> excess of 3, 200 square feet be appraised. <br /> The subject property is not adequate to be improved for <br /> construction of any building and therefore has no <br /> contributory value to the adjacent property owners. Since <br /> it is unimproved it has no value to the City of South Bend. <br /> If it was returned to private ownership, then it would <br /> become taxable and provide income to the local governments. <br /> Therefore, in my opinion, the market value of the subject • <br /> property as of August 9, 1988 is: <br /> No ($0.00) Dollars <br /> 922 E. JEFFERSON BLVD. , SOUTH BEND, IN 46617 (219) 232-3660 <br /> �,II <br />