HomeMy WebLinkAbout5A5 Resolution No. 3346 331 - 335 S Main St Disposition Offering Priceo��ovT�B��d
Department of
rR Community Investment
1865
Memorandum
September 15, 2016
TO: South Bend Redevelopment Commission
FROM: David Relos, Economic Resources
SUBJECT: Resolution No. 3346 VVvv
331 — 335 S. Main St. Disposition Offering Price
Attached is Resolution No. 3346, which sets the disposition offering price for property
located at 331 - 335 S. Main St.
The proposed fair market value of the property, as derived by two independent appraisals,
is found in "Exhibit A" in the attached resolution.
Staff requests approval of Resolution No. 3346.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV
RESOLUTION NO. 3346
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION ESTABLISHING THE OFFERING PRICE OF
PROPERTY IN THE RIVER WEST DEVELOPMENT AREA
WHEREAS, the South Bend Redevelopment Commission (the "Commission "),
the governing body of the City of South Bend, Department of Redevelopment, exists
and operates pursuant to I.C. 36 -7 -14 (the "Act "); and
WHEREAS, the Commission may dispose of real property in accordance with
Section 22 of the Act; and
WHEREAS, the real property identified at Exhibit A attached hereto and
incorporated herein has been appraised by two qualified, independent, professional real
estate appraisers and a written and signed copy of their appraisals is contained in the
Commission's files; and
WHEREAS, each such appraisal has been reviewed by a qualified
Redevelopment staff person, and no corrections, revisions, or additions were requested
by such reviewer.
NOW, THEREFORE, BE IT RESOLVED by the Commission, pursuant to Section
22 of the Act, that based upon such appraisals, the offering price of the property
described at Exhibit A is hereby established as stated therein, which amount is not less
than the average of the two appraisals, and all documentation related to such
determination is contained in the Commission's files.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
September 15, 2016, at 1308 County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT
COMMISSION
Marcia I. Jones, President
ATTEST:
Donald E. Inks, Secretary
EXHIBIT A
TO RESOLUTION NO. 3346
Property
Size
Minimum Offering
Price
proposed Use
331- 335 S. Main St.
16,170 SF + $150,00 0
Commercial projects that
are permitted within the
Central Business District
zoning designation.
Strong emphasis will be
placed during the review
process on compatibility
with the goals and
objectives of the River
West Development Area;
the redevelopment efforts
of the Central Business
District; and the
surrounding businesses
and neighborhood.