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U- 0�,. <br />�SpUTH eFN <br />�\\z Department of <br />c o <br />�. Community Investment <br />1865 <br />Memorandum <br />May 30, 2013 <br />TO: Redevelopment Commission <br />FROM: David Relos, Economic Resources Associate <br />SUBJECT: Res. No. 3141 — Acquisition Offer for 725 W. Indiana <br />This Memorandum is for the acquisition of 725 W. Indiana. This property was added to <br />the Airport Economic Development Area's Acquisition List by Resolution No. 2668 on <br />May 21, 2010. It was added in an effort to clean and clear the southern boundary of <br />Ignition Park, and to help stabilize the Rum Village neighborhood to the south. <br />This is a commercial property that contains 3 lots and a building. The property owner <br />would like to participate in the goals of the Commission to clean and clear this area. <br />Resolution No. 3141 sets the acquisition value of the property at $51,500. The <br />acquisition value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 3141, to allow the acquisition of this property <br />to proceed. <br />227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574- 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV <br />