HomeMy WebLinkAbout6B(4) Administrative Settlement 531 W. IndianaC~ ~ C ~~
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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 Planne
Subject: Administrative Settlement for acquisition of 531 W. Indiana Ave.
Date: April 23, 2010
This is the staff report for the administrative settlement that is needed for the acquisition of
531 W. Indiana Avenue. According to the Uniform Relocation Act (Act), which has been
adopted as the Commission's relocation policy, an administrative settlement is authorized in
cases where an additional payment is necessary to acquire a property.
On March 19, 2010, the Commission approved Resolution No. 2633, which authorized the
purchase of this property based upon its average appraised value of $30,000. There has
been no counter offer. Staff has been working with the property owner, within the
acquisition and relocation sections of the Act, to reasonably reach an agreement to acquire
this property.
Approximately $15,100 additional is needed to gain clear title to this property. Under the
Act, an administrative settlement is authorized, though not required, in a case such as this.
However, to acquire this particular property and gain clear title to it, the Act does authorize
this payment.
This property is a 1,400 square foot, two story, three bedroom single family residence. It
has a one stall detached garage, a fenced yard, two porches, a new roof, and newer
furnace and central air.
Staff feels the total approximate acquisition cost of $45,100 is reasonable for this property,
in light of its size, condition, and amenities, and requests your approval of the administrative
settlement to allow the acquisition of this property.
What We Do Today Makes A Difference!
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Community & Economic Development r ~ ;,~'
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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 Planne
Subject: Administrative Settlement for acquisition of 531 W. Indiana Ave.
Date: April 23, 2010
This is the staff report for the administrative settlement that is needed for the acquisition of
531 W. Indiana Avenue. According to the Uniform Relocation Act (Act), which has been
adopted as the Commission's relocation policy, an administrative settlement is authorized in
cases where an additional payment is necessary to acquire a property.
On March 19, 2010, the Commission approved Resolution No. 2633, which authorized the
purchase of this property based upon its average appraised value of $30,000. There has
been no counter offer. Staff has been working with the property owner, within the
acquisition and relocation sections of the Act, to reasonably reach an agreement to acquire
this property.
Approximately $15,100 additional is needed to gain clear title to this property. Under the
Act, an administrative settlement is authorized, though not required, in a case such as this.
However, to acquire this particular property and gain clear title to it, the Act does authorize
this payment.
This property is a 1,400 square foot, two story, three bedroom single family residence. It
has a one stall detached garage, a fenced yard, two porches, a new roof, and newer
furnace and central air.
Staff feels the total approximate acquisition cost of $45,100 is reasonable for this property,
in light of its size, condition, and amenities, and requests your approval of the administrative
settlement to allow the acquisition of this property.
What We Do Today Makes A Difference!