HomeMy WebLinkAboutNo. 1134 approving the fair re-use value of property in the SBCDA (Opelika Building)RESOLUTION NO. 1134
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 Rescheduled Regular Meeting of the South Bend
Redevelopment Commission held on the 19th day of February, 1993, 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:
Theo F. Sha ,'Secrets
ML:Res1134
RESOLUTION NO. 1134
EXHIBIT "A"
APPROXIMATE
SQUARE FEET RE -USE
STREET ADDRESS OF SITE VALUATION
Opelika Building 1.4998 Acres
322 -330 E. Colfax Ave.
South Bend, Indiana
Disposition Parcel
Number E3 -1
ML:Res1134
$305,000
PROPOSED
RE -USE
Office /Retail
Residential