HomeMy WebLinkAboutNo. 1628 approving the fair re-use value of property in the SBCDARESOLUTION NO. 1628
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 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
to 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 7th day of August, 1998, in the Office of the Redevelopment Commission, Room 1200
County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
Robert W. Hunt, Presi ent
ATTEST:
92-1 -0
Eugen'R S. Schwartz, Secretary
Res 1628
Cw EXHIBIT "A"
RESOLUTION NO. 1628
SOUTH BEND CENTRAL
DEVELOPMENT AREA APPROXIMATE RE -USE PROPOSED
PARCEL NUMBER SQUARE FEET VALUATION RE -USE
C2 -10 (a portion of) 1,630 $7.40 /s.f. Retail/
Commercial
A three to five year lease term is expected. The lease will be offered on a net basis.
RES 1628