HomeMy WebLinkAboutNo. 1011 approving the fair re-use value of property in the SBCDA (Colfax Theatre)r �
RESOLUTION NO. 1011
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
co 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 Redeveloment
Commission held on the 9th day of August, 1991 in the Office of the
Redevelopment Commission, Room 1200 County -City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
ATTEST:
Michael Donoho, Secretary
A
CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION
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Paula AuburnU President
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STREET ADDRESS
Colfax Theatre
213 West Colfax
South Bend, Indiana
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RESOLUTION NO.
EXHIBIT "A"
APPROXIMATE
SQUARE FEET
16,266
RE -USE
VALUATION
$65,000
PROPOSED
RE -USE
Commercial
Office /Retail