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1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021
To: Redevelopment Commission
From: David Relos, Economic Development Planner
Subject: Lump Sum payment for the acquisition of 1511 S. Kemble Ave.
Date: November 22, 2011
This is the staff report for the lump sum administrative settlement that is needed for the
acquisition of 1511 S. Kemble Ave. According to the Uniform Relocation Act (Act), an
administrative settlement is authorized in cases where an additional payment is necessary
to acquire a property.
On September 27, 2011, the Commission approved Resolution No. 2942, which authorized
the purchase of this property based upon its average appraised value of $24,250. Because
the property owner owes more on their mortgage than the appraised value, this same day
the Commission approved an Administrative Settlement in the amount of $17,500, for a
total acquisition cost of $41,750.
In addition to the acquisition cost of this property, there will be relocation costs of $32,650.
This property owner is married with three small children, and would like to quickly relocate.
To enable them to do this, they would like a lump sum payment instead of going through the
acquisition and relocation process.
A lump sum payment now would allow them to move, clear their credit report more timely,
and to then use the remaining relocation money of approximately $30,000 to put toward the
acquisition of a new home.
Staff feels the total acquisition and relocation cost of $74,400 is reasonable for this
property, and requests your approval of the Lump Sum Administrative Settlement to allow
its acquisition.
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