HomeMy WebLinkAboutNo. 2231 approving fair market value of property in the south SSDA•
RESOLUTION NO. 2231
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE FAIR MARKET VALUE OF
PROPERTY IN THE SOUTH SIDE 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 March
24, 2006, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
CITY OF SOUTH BEND
DEPARTMENT OF RE VELOPMENT
South Bend Redeveld=erht Commission
Marcia I. Jones, President
ATTEST:
Gr ry S. oones, ecretary
South Bend Redevelopment Commission
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EXHIBIT "A"
RESOLUTION NO. 2231
Parcel
Size
Minimum Offering Price
Proposed Re -Use
Ireland & Fellows
± 8,998 SF
$ 26,500.00
Development of a
Disposition Parcel
136.85'x 65.75'
commercial office use in
505 East Ireland Road
accordance with the "O"
Office requirement.