HomeMy WebLinkAboutNo. 1453 approving the fair re-use value of property in the SBCDA- .a
RESOLUTION NO. 1453
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 16th day of August, 1996, in Room
1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
Paula N. Auburn, President
ATTEST:
L____
William P. Hojna ', Secre ary
RESOLUTION NO. 1453
Exhibit "A"
Offering Sheet
Dispositbn
P&rel
602 South Michigan Street
Disposition Parcel M 19 - I, 5 & 6
fnimum Proposed
size Purchase Price Ne -use
Parcel A 44,886 sq.ft. $ 183,200.00 Commercial (Retail or Office)
Parcel B 10,272 sq.ft. $ 44,875.00 Commercial (Retail or Office)
Parcel C 50262 sq.ft. $ 25,000.00 Commercial or Residential