HomeMy WebLinkAboutNo. 1929 approving the fair re-use value of property in the SBCDARESOLUTION NO. 1929
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE FAIR RE -USE VALUE OF
PROPERTY IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA.
WHEREAS, the property listed in the 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 files; and
WHEREAS, each such appraisal has been reviewed by qualified Redevelopment staff
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 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 of the re -use
indicated of the property 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 December 6, 2002, at 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
By:
Robert W. Hunt, President
ATTEST:
Marcia Jones, ice President
ATTACHMENT "A"
RESOLUTION NO. 1929
Parcel
Size
Minimum
Purchase Price
Proposed Re -Use
Palais Building less
±49,840 sq.
$3,982,500.00
Ballroom/Confer-
easements to be
ft. less
ence
retained by the City
13,782 sq.
Center /Banquet
for its active use
ft.(Floor Area)
Facility
(Parcel Number C 2-
±0.34 Acres
10)
(Land Area)