HomeMy WebLinkAboutNo. 1587 approving the fair re-use value of property in the AEDA (US 31 Industrial Park, NE corner of St. Joseph Valley Pkwy. and Brick Rd.)�1
[J*l
C�
RESOLUTION NO. 1587
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROVING THE FAIR RE -USE VALUE OF PROPERTY IN THE AIRPORT
ECONOMIC 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 a 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 re -use 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 6th day of March, 1998, in Room 1308 County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601
ATTEST:
IF"
i ',& i
CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
l%�o " -, , � V-,
o�rbe/Ir/t-"T. Hunt, President
. . a .•)L
s
Exhibit A
Disposition Parcel
US 31 Industrial Park located on the north east corner
of Saint Joseph Valley Parkway and Brick Road.
Lots 8 to 19 38.92 Acres $935,000 Industrial
Size
Minimum
Proposed
Purchase Price
Use
Lot 1.
2.2 Acres
$27500
Commercial
Lot 2.
2.2 Acres
$2759000
Commercial
Lot 3.
2.1 Acres
$315,000
Commercial
Lot 4.
1.4 Acres
$210,000
Commercial
Lot 5.
1.6 Acres
$160,000
Commercial
Lot 6.
1.9 Acres
$1905000
Commercial
Lot 7.
3.9 Acres
$1563,000
Industrial
Lot 8.
3.8 Acres
$152,000
Industrial
Lot 9.
3.8 Acres
$152,000
Industrial
Lot 10.
2.5 Acres
$1009000
Industrial
Lot 11.
2.8 Acres
$112,000
Industrial
Lot 12.
4.1 Acres
$164,000
Industrial
Lot 13.
3.5 Acres
$112,000
Industrial
Lot 14.
3.4 Acres
$108,800
Industrial
Lot 15.
3.9 Acres
$124,800
Industrial
Lot 16.
3.9 Acres
$124,800
Industrial
Lot 17.
1.8 Acres
$ 57,600
Industrial
Lot 18.
1.6 Acres
$ 51,200
Industrial
Lot 19.
1.6 Acres
$ 51,200
Industrial
If a bidder wishes to purchase lots eight (8) through nineteen (19) as a single lot then the price
will be as follows:
Lots 8 to 19 38.92 Acres $935,000 Industrial