6.B.(7) Staff report, Habitat - Laserfiche WebLink

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~ ~ (,) • UTQ @@ q 1~~ili,//i, ~Q Community & Economic Development ~"~ ~~,,~' 1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601-1830 Phone 574/235-9371 Fax 574/235-9021 To: Redevelopment Commission From: David Relos, Economic Development Planner Subject: Habitat Appraisal Date: February 19, 2010 On January 15, 2010, the Commission accepted the Habitat for Humanity counter offer of $345,000 for their property located at 412 E. Sample Street, contingent on getting an outside appraisal on the new location, the old Kroger store and parking lot at the corner of Main & Ewing, that is close to the value being paid for the Sample Street property. Habitat employed Richard McCloskey, a licensed MAI appraiser used routinely by staff to do commercial appraisals. Because both appraisals totaled nearly 100 pages, attached is the value page from both appraisals. The combined appraised value for both parcels adds to a total of $328,000, which calculates to a 5% difference between the appraised value and the counter offer price. Because of the close proximity between the appraised value and the counter offer price, staff requests approval to move forward with the acquisition of the Habitat property at 412 E. Sample Street. What We Do Today Makes A Difference!