HomeMy WebLinkAbout6B(1) Resolution No. 2797b 6 ( I)
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Community & Economic Development �a
1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021
To: South Bend Redevelopment Commission
From: Bill Schalliol, Economic Development Planner ss._�
Subject: Resolution No. 2797
Date: October 28, 2010
Attached is Resolution No. 2797 which sets the fair market value for the property referred to
as the Main & Western Disposition Parcel. The property is located at 410 South Main
Street and is designated as tax parcel 18- 3016 - 058601. The parcel is ± 34,055 SF (139, x
245') in size. The property is zoned "CBD" or Central Business District.
The proposed fair market value of the property as derived at by two independent MAI
appraisals is $80,825.00.
Staff requests approval of Resolution No. 2797.
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RESOLUTION NO. 2797
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE FAIR MARKET VALUE OF
PROPERTY IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA.
WHEREAS, the 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; and
WHEREAS, the reviewer has prepared a written report which indicates that the
appraisals are complete and consistent in the factual data contained therein, comply with
existing statutory and regulatory requirements and are acceptable for the determination of fair
market value.
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commission, governing body of the City of South Bend Department of Redevelopment, that
based upon such appraisals and the review thereof, the offering price of the property described
at Exhibit "A" is hereby established as stated therein 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
November 2, 2010, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
South Bend Redevelopment Commission
ATTEST:
South Bend Redevelopment Commission
EXHIBIT "A"
RESOLUTION NO. 2797
Parcel
Size
Minimum Offering Price
Proposed Re -Use
Main & Western
Site
$ 80,825.00
Commercial - retail,
Disposition Parcel
139'x 245'
commercial -office or
Acres
mixed use projects that
.78
are permitted within the
410 South Main Street
"CBD" Central Business
018 - 3016 - 058601
District zoning
designation.
Strong emphasis will be
placed during the review
process on compatibility
with the goals and
objectives of Downtown
South Bend and the
Coveleski Park planning
area