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South Bend Redevelopment Commission <br />Regular Meeting -August ] 5, 2008 <br />Burns are vacant lots in the Phase 1 area of <br />the Triangle Neighborhood Redevelopment <br />Area. The value of these lots owned by R. <br />Glen Goodin and Michael Wankel has been <br />established as the average of two <br />independent appraisals at $11,000. <br />Resolution No. 2484 sets the offering price at <br />$11,000. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Blake and unanimously carried, the <br />Commission approved Resolution No. 2484 <br />related to acquisition of property in the <br />Northeast Neighborhood Development Area. <br />(1 113 & I ] 17 Burns) <br />(2) Commission approval requested for <br />Resolution No. 2485 approving and <br />accepting a counter offer for the <br />acquisition of property in the NNllA. <br />(11]3 & 1117 Burns) <br />Mr. Schalliol noted that Mr. Goodin and Mr. <br />Wankel, after intense negotiation, submitted <br />a counter of-fer in the amount of $65,000. <br />Mr. Schalliol noted that as we get closer to <br />the end of our acquisitions, the remaining <br />property becomes more valuable. There are <br />twelve properties yet to acquire, some of <br />which are Mousing Authority duplexes. Staff <br />recommends accepting the offer. <br />Ms. Jones asked how many more properties <br />we need to buy and whether we have enough <br />money left to buy them. Mr. Schalliol <br />responded that there are twelve more to buy <br />in Yhase I and Phase Il. We do not have <br />enough to buy them all this year. We are to <br />the point where we have to decide which to <br />go after yet this year. We arc also looking <br />for additional, non-city funds with which to <br />continue purchasing. <br />COMMISSION APPROVI'D RESOLUTION NO. ?484 <br />RELATED TO ACQUISITION OP PROVER"I~Y IN l'I IL <br />NORM IEASr NE~G~ If30RHOOD DEV ELOPMGNT <br />AReA. (l l 13 & I i l7 BURNS) <br />19 <br />