HomeMy WebLinkAboutNo. 2179 approving the fair rental value of retail space in SB cda (117 S. Michigan St.)Resolution No. 2179
Resolution of the South Bend Redevelopment
Commission Approving the Fair Rental Value of the Retail
Space in the South Bend Central Development Area
(117 S. Michigan St.)
WHEREAS, the retail space listed on the attached Exhibit `A' has been appraised by
qualified, independent, professional real estate appraisers (2) and a written and signed
copy of the appraisals is contained in the Commission file; and
WHEREAS, each such appraisal has been reviewed by qualified Redevelopment Staff
and no corrections, revisions, or additions were requested by such reviewers; 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 rental value.
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commission, governing body of the City of South Bend Department of Redevelopment,
that retail space listed in Exhibit "A ", attached hereto and made a part 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 19th day of Agust, 2005 in Room 1308 County -City Building, 227 West Jefferson
Blvd., South Bend, IN 46601.
C7
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Exhibit "A"
Proposal to Rent Property
Owned by the Redevelopment Commission in
South Bend, IN
(CBD)
OFFERING SHEET
Property Address Approximate Size Proposed Rental Amt
117 S Michigan St 2,396 square feet (formerly $10.50/square foot
known as: Esprit Decor)
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