HomeMy WebLinkAboutNo. 2123 approving the fair market value of property in the SBCDA•
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RESOLUTION NO. 2123
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
January 21, 2005, at 1348 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46501.
ATTEST:
Robert W. Hunt:, Secretary
South Bend Redevelopment Commission
HAWPData \Pioje ts\SBCDA \Hotel LaSa11e\Bid_Res2123.wpd
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th Bend Rtoev)-- ¢ment Commission
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EXHIBIT "A"
RESOLUTION NO. 2123
Parcel
Size
Offering Price
Proposed Re-Use
Former Hotel. LaSalle 237 N.
+ 0.75 Acres
$400,500.00
Reconditioned for use
Michigan Street and
as a hotel or converted
Adjacent Parking Area
into apartments or
(Parcels C 2-1 and 02-14)
condominiums or some
combination thereof
with first floor &
mezzanine used for
commercial/office
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