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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 10, 2025 <br /> <br />5 <br /> <br />zoning codes and their small size. The only potential value might be to <br />neighboring properties, but even then, setbacks and current building <br />positions make them unbuildable. On paper, the value might be <br />$20,000 to $25,000, but in reality, there is limited opportunity to build <br />on these parcels as they were remnants from when the road was <br />constructed through the property. The Old Cleveland Road property is <br />assessed at around $10,000 and might appraise for slightly more. It is <br />an acre and a half of clean industrial land, making it more valuable and <br />buildable compared to the other four parcels. The Airport Authority <br />approached us about these remnant parcels, as they provide better <br />access to their parking lots. Parking has become a challenge at the <br />airport. <br /> <br />Commissioner Ellison asked if we intend to purchase the parcel owned <br />by the County and Mr. Molnar stated that they have always been good <br />partners with transferring property if needed. <br /> <br />Upon a motion by David Relos for approval, seconded by Ophelia <br />Gooden-Rodgers, the motion carried unanimously; the Commission <br />approved Resolution No. 3632 and Transfer Agreement as presented <br />on April 10, 2025. <br /> <br />4. Purchase Agreement (4216 Old Cleveland Rd.) <br /> <br />Joseph Molnar, the Assistant Director of Growth and Opportunity, <br />presented a purchase agreement for the property at 4216 Old <br />Cleveland Road, priced at $192,500. The agreement includes a 30 -day <br />due diligence period and a closing date 150 days thereafter. <br />Commissioner Gooden-Rodgers inquired about the property's intended <br />use. Mr. Molnar explained that having such properties available is <br />advantageous when developers seek a specific amount of <br />undeveloped land. It's valuable to maintain these options in our <br />portfolio. <br /> <br />Commissioner Ellison asked about the condition of the house and Mr. <br />Molnar explained the idea is to eventually demolish the residence on <br />the property. It is a single-family house situated on 3.5 acres. The <br />property appraised for approximately $190,000, with most of the value <br />attributed to the land rather than the house itself. Secretary Wax was <br />not in favor of the purchase. <br /> <br />Motion was made by David Relos to approve, second by Gillian Shaw. <br /> <br />On the motion: <br />• Troy Warner, President: Yes <br />• David Relos, Vice President: Yes