HomeMy WebLinkAboutNo. 1117 approving the fair re-use value of property in the Studebaker corridor development areaRESOLUTION NO. 1117
IrRESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE FAIR RE -USE VALUE OF
PROPERTY IN THE STUDEBAKER CORRIDOR 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 4th day of December, 1992, in Room 1308
County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
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Michael Donoho, Secretary
ML:Res1117
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CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
Paula N. Auburn, President
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RESOLUTION NO. 1117
EXHIBIT "A"
ML:Res1117
APPROXIMATE
DISPOSITION
SQUARE
FEET
RE -USE
PROPOSED
PARCEL NO.(S)
OF SITE
VALUATION
RE -USE
1
131,687
s.f.
$
85,563
Light
Industrial
9
62,493
s.f.
$
58,750
Light
Industrial
it
135,747
s.f.
$
87,500
Light
Industrial
30
318,960
s.f.
$226,051
Light
Industrial
5
42,049
s.f.
$
49,500
Light
Industrial
7
40,224
s.f.
$
40,500
Light
Industrial
16
43,641
s.f.
$
31,650
Light
Industrial
19
27,935
s.f.
$
35,750
Light
Industrial
23
43,786
s.f.
$
40,500
Light
Industrial
8
10,937
s.f.
$
13,350
Light
Industrial
15
4,138
s.f.
$
3,650
Light
Industrial
18
3,036
s.f.
$
2,650
Light
Industrial
ML:Res1117