HomeMy WebLinkAboutNo. 2190 approving fair market value of property in SBCDA (former OSCO Drug, Michigan St.)! RESOLUTION 2190
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROVING THE FAIR MARKET VALUE OF PROPERTY IN THE SOUTH
BEND CENTRAL DEVELOPMENT AREA
WHEREAS, the property listed on attached "Exhibit A" 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 qualified Redevelopment
staff and one correction was requested to reflect certain factual data, and upon further
review of appraisals as corrected, no further corrections, revisions, or additions were
requested by such review; 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 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 fair value for the re -use
indicated of the property listed in "Exhibit A ", attached hereto and made apart hereof, is
established as shown thereon and all documentation related to such determination is
contained in the Commission files.
Adopted at the regular meeting of the South Bend Redevelopment Commission held on
the 21St day of October, 2005 in Room 1308 of the County -City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
Attest.
—
Gregory S. Downes, Secretary
•
City of South Bend, Indiana
Redevelopment Compinussio n
Marcia I. Jone , President
EXHIBIT A
Resolution 2190
Offering Sheet
Disposition Parcel
Parcel Size Minimum Purchase Price Proposed Re -Use
Former Osco Drug 11,962 SF (.275 acre) $480,000.00 Commercial with
122- 124 -126 S Michigan St. preference for
18 -3001 -0014; 0015; 0016 retail