1991-03-08 Resolution 33 - Laserfiche WebLink

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'.,r • NUPr~I, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDE~IELOPMENT AUTHORITY AS FOLLOWS: 1. There shall be, and the same hereby are, established and adopted by the Authority, procedures governing the purchase of real property included, pursuant to I.C. 36-7-14-15, -17.5, -41, or-43, ~,n'a list of properties to be acquired by the Cammisson (the "'Property" ) ( the 11Acquisition List°` ) under a plan ( the "Plan'°) for a redevelopment or economic development area, in connection with which Plan the Property is needed or considered useful, which procedures are as follows: A. These procedures. apply. to the purchase by the Authority of Property on the Acquisition List under the Plan, in connection with which Plan. the Property is needed or considered useful, as determined by the Authority. B. Subsequent to the inclusion of the Property on the .Acquisition List by-the.Cor~tmission, should the Authority determine that the Property is needed ar considered useful in connection with. the Plan, the Authority shall adopt a Resolution declaring its intent to acquire the Property, and authorizing the staff to procure two (2} independent appraisals of 'tYie fair market value of the Property. The appraisers must be: • (1), professionally ..engaged in making appraisals; or (2) licensed under L.C. 25-34.1: Provided, however, that. if the Property is less than five (5) acres in size and the fair market value has kieen appraised at less than ten thousand dollars ($10,040.04), the second appraisal may be made by a qualified employee of the department of redevelopment of the City of South Bend. C. The appraisers shall be asked to return their appraisals within thirty (30) days of their appointment. D. If the Commission. has procured within twelve (12) months of the time,at which the Authority determines the Property is needed ar considered useful in connection with the Plano two (2) independent appraisals of the Property, performed by persons qualified hereby to make such appraisals on behalf of the Authority, the Authority may ratify the appointment of .such appraisers and accept. such appraisals for its own purposes hereunder. E. Subsequent to the return or ratification. of said .appraisals, the Authority shall-adopt a resolution confirming its intent to acquire the Property, establishing • the price to be offered for the Property, which-price may not exceed the average of said appraisals, .and authorizing the Authority staff to negotiate with. the owner(s) of the