HomeMy WebLinkAbout6C (3)� C_(3)
,,1{11'1, �o
Community & Economic Development'
• 1865
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: Administrative Settlement for the acquisition of 1512 S. Kemble
Date: January 24, 2012
This staff report is for the administrative settlement that is needed for the acquisition of
1512 S. Kemble. According to the Uniform Relocation 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. 2940, setting the offer
price for this property at $12,250, which is its average appraised value. Staff has been
working with the property owner since that time, to reasonably reach an agreement to
acquire this property and relocate the occupant.
This property is a two story, four bedroom, 1,280 square foot single family residence.
Under our relocation policy, an additional $20,250 is eligible as a housing replacement
payment to move this property owner into a similar sized decent, safe, and sanitary home.
The owner has found another home, but an administrative settlement of $7,400 is needed
to purchase it ($12,250 acquisition cost + $20,250 housing replacement payment + $7,400
administrative settlement = new home's price of $39,900).
Property acquisitions with relocation in this same immediate area have ranged from
approximately $50,000 to $70,000.
Staff feels an administrative settlement of $7,400 is reasonable compared with other
acquisitions in this area, and requests your approval of the administrative settlement to
allow for the acquisition of this property and the owner's relocation.
What We Do Today Makes A Difference!