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SourNR <br />Department of <br />Community Investment <br />1865 <br />Memorandum <br />June 26, 2014 <br />TO: Redevelopment Commission <br />FROM: Brock Zeeb, Director of Economic Resources <br />SUBJECT: Blackthorn Golf Course appraised value <br />On April 24, 2014, the Commission approved to have two appraisers value the <br />Blackthorn Golf Course and improvements. Those two appraisers were Hughes & <br />Company and Valbridge Property Advisers, both well known, national golf course <br />appraisal companies. <br />The appraisals have been received, and as an update, the values arrived at are: <br />• Valbridge - $1,560,000 <br />• Hughes- $1,750,000 <br />Taking these two values into consideration, the average appraised value is $1,655,000. <br />The Department of Community Investment will continue to weigh options for the course, <br />and will report back to the Commission when options arise. <br />221 W. JEFh EHSON BLVD. SOUTH BEND, IN 46601 1 P: 574235 -9371 I FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV <br />