06-13-13 Redevelopment Commission Minutes

Home Browse Search

South Bend Redevelopment Commission Regular Meeting — Thursday, June 13, 2013 6. NEW BUSINESS A. South Bend Central Development Area (1) continued... after the sale. Mr. Pitts' assistance through the appeal won't guarantee that the appeal will be successful. The biggest help in an appeal will be the ultimate sales price. Mr. Meteiver noted that those evaluations aren't effective until March 15` the following year when the property is reassessed. We want to reduce the assessed value for the 2012 pay 2013 taxes. Ms. Schey asked for a status report on Community Investment's effort to find a new tenant for the former Football Hall of Fame. Mr. Relos responded that a call for offers went out nationally; responses are due by July 31, 2013. Staff will review those when they come in and make a report to the Commission. Mr. Meteiver noted that this property has already gone through the formal disposition process. This RFP process is an informal negotiation. Mr. Downes asked how the Assessor came up with an assessed value of $6 million when the appraised value we got was only $2.6 million. Mr. Relos responded that the Assessor has a handbook that values such things as square footage of the building when it was built. Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission accepted the Proposal for professional services for tax appeal for the College Football Hall of Fame property for the scope of services proposed and a cost not to exceed $1750. (2) Agreement for Early Termination of Lease (Gates Automotive Corp. 410 W. Wayne). Mr. Relos noted that as part of the January 2012 final acquisition of the downtown Gates properties, the Commission assumed two leases. The first lease is for the Gates Service Center at 410 W. Wayne; the second lease is for the Gates Used Car Lot at 205 W. Western. Both leases were for an initial five year term, expiring July 31, 2013. Both leases grant the Lessee an option for three two -year renewals. On March 28th of this year, Gates gave notice of its intent to renew both leases. The leases include a clause that grants the Lessee early termination upon 90 days written notice. On May 20, written notice was received of the early termination of the Gates Service Center lease, which will terminate on August 31, 2013.