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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: Administrative Settlement for acquisition of 1502 S. Chapin St.
Date: February 08, 2011
This is the staff report for the administrative settlement that is needed for the acquisition of
1502 S. Chapin St. According to the Uniform Relocation Act (Act), an administrative
settlement is authorized in cases where an additional payment is necessary to acquire and
gain clear title to a property.
On September 17, 2010, the Commission approved Resolution No. 2764, which authorized
the purchase of this property based upon its average appraised value of $21,500. 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 $6,800 additional is needed to pay off a bank mortgage and 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 1,152 square foot, two story, four bedroom single family residence.
Staff feels the total approximate acquisition cost of $28,300, plus associated relocation and
closing costs, 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.
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