HomeMy WebLinkAboutNo. 1608 approving the fair re-use value of property in the SBCDAY
RESOLUTION NO. 1608
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
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 5th day of June, 1998, in the Office of the Redevelopment Commission, Room 1200 County -
City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
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Eug 'a Schwartz, Secretary
Res 1608
CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
Robert W. Hunt, President
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SOUTH BEND CENTRAL
DEVELOPMENT AREA
PARCEL NUMBER
C4-46
EXHIBIT "A"
RESOLUTION NO. 1608
APPROXIMATE
SQUARE FEET
11,526
RE -USE
VALUATION
$10.50 /s.f.
PROPOSED
RE -USE
Retail/
Commercial
The bidder may submit a bid for all or a portion of the space to be leased. A three -year lease
term is expected. The lease will be offered on a net basis.
RES 1608