HomeMy WebLinkAboutNo. 1935 approving the rair re-use value of property in the SBCDARESOLUTION NO. 1935
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.
c'' Adopted at the Regular Meeting of the South Bend Redevelopment Commission held on
January 17, 2003, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
Philip J. Fa e d , S cretary
Al
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
By:
Robert W. Hunt, President
ATTACHMENT "A"
RESOLUTION NO. 1935
Parcel
Size
Minimum Purchase
Price
proposed Re -Use
Crescent Avenue
±1.86 Acres
$521,500.00
Parcel 1 & 3
Properties
Medical Related
(Parcel 1, 2 and 3)
Office with ancillary
Commercial and
Residential Uses
Parcel 2
Low Density
Residential Uses
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