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South Bend Redevelopment Commission <br />Kegular Ivleeting-September 5, 2008 <br />6. NEW BUSINESS <br />C. Airport Economic Development Area <br />(3) continued... <br />counter offer when the appraised value was <br />identical Mr. Witwer responded that the <br />Commission should consider these two <br />properties as one and the total purchase price <br />as $64,000. The price compensates the <br />owner for demolishing the building. <br />Everyone benefits. The city receives the <br />property as vacant land for less than it would <br />have to pay for acquisition with the building <br />in place and then paying for demolition. <br />Mr. Downes asked how this purchase price <br />compares to what we budgeted for the site. <br />Mr. Witwer responded that it is on target <br />with what we budgeted. <br />Mr. Varner asked if this sets a precedent for <br />what well have to pay for other property in <br />this area, $30,000 an acre. Mr. Witwer <br />responded that it should not. There are <br />different considerations with this property <br />than there will be for others. <br />Mr. Varner asked to sec the F,ckler-Lahev <br />documents. Mr. Witwer will provide them. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. I31ake and unanimously carried, the <br />Commission approved Resolution No. 2502 <br />related to acquisition of property in the <br />Airport Economic Development Area. (South <br />Portion 1202 S. Lafayette) <br />(4) Resolution No. 2503 approving and <br />accepting a counter offer for the <br />acquisition of property in the AEllA <br />(South Portion 1202 S. Lafayette) <br />16 <br />COMMISSION APPROVED RLSOLAITION NO. 2502 <br />RGLAIhD TO ACQUISI~fION OP PROPERTY IN "f11E <br />AIRPORT ECONOMIC D1iVELOPMENT AREA. <br />(SOU~1~}i POR770N ]202 S. LAl'AYET17:) <br />