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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: Update: Tax Sale Acquisition Outcome
Date: March 19, 2010
On February 19, 2010, the Commission approved Resolution No.2653, which authorized
an addendum to the Master Agency Agreement with the Board of Public Works to allow
staff to try to purchase 30 parcels that were on the County Commissioner's tax sale list.
This addendum authorized a not to exceed amount of $250,000.
Staff is happy to report that all 30 parcels were purchased, and the amount spent was a
little less than $42,000.
Of these 30 parcels, 24 of them are along Indiana Avenue, and are in the process of being
added to the acquisition list. The original estimated cost of acquisition for these 24
properties (twelve vacant lots and twelve with buildings) was $660,000. Total spent on
these 24 properties was less than $15,000, for an estimated savings of $645,000.
Staff wishes to thank the Commission and the Board of Public Works for the approvals
necessary to carry out these acquisitions, thereby allowing these cost savings to be
recognized.
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