HomeMy WebLinkAboutNo. 1715 approving the fair re-use value of property in the SEDA (storage/retail 414 W. Sample)RESOLUTION NO. 1715
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE FAIR RE -USE VALUE OF
PROPERTY IN THE SAMPLE -EWING DEVELOPMENT AREA
WHEREAS, the property listed on 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 review; 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 for 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 the Sth day of November 1999 in Room
1308 County-City Building, 221 West Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
r
Robert W. Hunt, President
ATTEST:
Philip J. Facc a, cret ry
,T
RESOLUTION NO. 171S
Exhibit "A"
Offering Sheet
Itudekfer Corridor Building 0V
414 W. Iample
Sample -Ewing Development Area
Minimum Lease Amount Proposed
Address AN 10 - -Year Term Re -Use
414 W. Sample approx.168,000 sf $105,625/yr. Storage /Retail