HomeMy WebLinkAboutNo. 1337 approving the fair re-use value of property in the SBCDA (122 S. Michigan St.)RESOLUTION NO. 1337
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 21st day of April, 1995, in Room 1308 County -City Building, 227 West Jefferson
Boulevard, South Bend, Indiana 46601.
ATTEST:
s
Robert W. unt, Secretary
ML:Res1337
CITY OF SOUTH BEND, INDIANA
RED ELOPMENT COMMISSION
Paula N. Auburn, Vice President
Et�
Disposition Parcel
Resolution No. 1337
Attachment "A"
Approximate
Square Ft. Annual
of Site Lease Rate
Proposed
Re -Use
122 S. Michigan St. 4,372 s.f. $6,650.00 Retail/Office
Key #18- 3001 - 001301