HomeMy WebLinkAboutNo. 1575 approving the fair re-use value of property in the SEDA (commercial)-4 ,µ =_
RESOLUTION NO. 1575
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
6th day of February 1998 in Room 1308 County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
X z" �
Robert W. Hunt, President
ATTEST:
Paula N. Auburn, Secretary
VU:Res1575
KEY#
18- 3042 -1612
VU:Res1575
RESOLUTION NO. 1575
EXHIBIT "A"
APPROXIMATE
SQUARE FEET
OF SITE
13,900 sq ft
RE -USE
VALUATION
$4,600
PROPOSED
RE -USE
Commercial