HomeMy WebLinkAboutNo. 2173 approving the fair market value of property in the SBCDA (air rights above proposed parking and retail facility 121 S. St. Joseph St.)1�1
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RESOLUTION NO. 2173
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 June
17, 2005, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
ATTEST-
South Bend Redevelopment Commission
Robert W. Hunt, Secretary
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EXHIBIT "X'
RESOLUTION NO. 2173
Parcel
Size
Offering Price
Proposed Re-Use
Air Rights above
+0.58 Acres
$162,500
Class A office
proposed Parking and
space of 30,000 to
Retail Facility 121 S. St.
5,000 square feet
Joseph St., including all
necessary access and
supporting easements
(Parcel C 4-89)