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by Commission owned property on three sides and the fourth side is William Street. The <br />current property owner, a descendant of the original owner, is based out of Chicago and is <br />interested in selling off this parcel. The average appraised value for the parcel is <br />$17,250.00. The site would be used for development purposes related to the ballpark plan. <br />Richey's Radiator Service is a third generation South Bend business. Having relocated two <br />previous times because of redevelopment projects, most recently to make way for Century <br />Center, the current owners are interested in closing out the business instead of relocating <br />again. The parcel sits on the SE corner of William and Western and is one of the last <br />parcels on the Gates block not owned by the Commission. By having control of the corner, <br />the Commission can allow for controlled redevelopment of the site. The average appraised <br />value of the site was $161,825.00 but staff has worked with the owner on a $190,000.00 <br />counter-offer that would help provide the owner with closeout expenses and other related <br />funding. The $30,000 is equivalent to relocation costs that the Commission would incur if <br />the business chose to relocate. This site would be cleared along with the parcels south to <br />the Synagogue and made ready for new commercial development. <br />Staff requests favorable Commission approval of these five resolutions. <br />