HomeMy WebLinkAboutNo. 2071 approving the fair rental value of the retail space in the SBCDA (Wayne Street retail)Resolution No. 2071
Resolution of the South Bend Redevelopment
Commission Approving the Fair Rental Value of the Retail
Space in the South Bend Central Development Area
(Wayne Street Retail)
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 16th day of July, 2004 in Room 1308 County -City Building, 227 West Jefferson
Blvd., South Bend, IN 46601.
Attest:
tt Kahn, Secret ry
'A
SOUTH BEND REDEVELOP ENT COMMISSION
Marcia Jones, Prbident
WayneStRetail.doc
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Exhibit "A"
Proposal to Rent Property
Owned by the Redevelopment Commission in
South Bend, IN (CBD)
Property Address
Wayne Street Retail Space
117 E. Wayne St.
Lease Space #1
(Billie's Catering)
119 E. Wayne St.
Lease Space #2
OFFERING SHEET
Approximate Size
3,666 square feet (gross)
1,788 square feet (net)
$8.15 /square foot
1,056 square feet (net)
$8.40 /square foot
WayneStRetail.doc