HomeMy WebLinkAboutNo. 1558 approving the fair re-use value of property in the AEDA (Second Blackthorn Industrial Parcel A). - ..'
RESOLUTION NO. 1558
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 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
IL, such determination is contained in the Commission files.
Adopted at the Regular Meeting of the South Bend Redevelopment Commission held on the 21st day of November, 1997, in
Room 1308 County-City Building, 221 West Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
Robert W. Hunt, President
ATTEST:
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Paula N. Auburn, Secretary
A I
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Resolution No. 1558
Exhibit "A"
Offering Sheet
Disposition Parcel
Southwest corner of the Indiana Toll Road
and the Saint Joseph Valley Parkway
Tax Key # 25 -1011 0610
Size Minimum Proposed
Purchase Price Use
Second Blackthorn Industrial
Parcel A 17.79 Acres $118,350 Industrial
Bid Specifications & Design Considerations
All building plans, landscaping plans, site plans and signage must be approved by the
City of South Bend's Design Review Coordinator. Such approval is based on Design
Guidelines created for the Airport Economic Development Area.
2. Project must be started within one year of award; project must be completed within two
years of award.
3. Parcel may be split and may be sold on a pro -rated basis.
4. This offering is made subject to the following deed restrictions to be placed, by deed, as
restrictive covenants against the property:
That Grantee, its successors and assigns promise, covenant and warrant that they, their
successors and assigns, will limit development of the Real Estate to prohibit the
placement or construction of any new outdoor advertising sign, off premise sign, or
billboard sign thereon.
rW 5. Minimum purchase price is based on an unimproved lot. In the event that the lot is
improved by construction of an access road and installation of utilities, the Commission
will expect a significantly higher purchase price.