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SOUTH Bf <br />Department of <br />yr,z Community Investment <br />IBfS <br />Memorandum <br />March 14, 2013 <br />TO: Redevelopment Commission <br />FROM: David Relos, Economic Resources Associate <br />SUBJECT: Res. No. 3126 — Acquisition Offer for 726 -730 E. Sample St. <br />This staff report is for the acquisition of 726 — 730 E. Sample St. This property was <br />added to the Airport Economic Development Area Acquisition List by Resolution No. <br />1839 on July 20, 2001. It was added in an effort to clean and clear the area for future <br />development opportunities. <br />This particular property is the last property to be acquired in this area (see attached <br />map). It is improved with a one story commercial building containing 3,940 square feet. <br />Housed in the building is a wood working business. <br />The property owner would like participate in the goals of the Commission in its efforts to <br />clean and clear this area, and has been cooperating with Staff to acquire this property. <br />Resolution No. 3126 sets the acquisition value of the property at $27,750. The <br />acquisition value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 3126, to allow for the acquisition of this <br />property <br />227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574- 235 -9021 1 SOUTHBENDIN.GOV <br />