HomeMy WebLinkAbout5A1 Resolution No. 3460 (Setting the Disposition Offering Price 900-1002 S Lafayette)CITY OF SOUTH BEND
REDEVELOPMENT COMMISSION
Redevelopment Commission Agenda Item
DATE: October 25, 2018
FROM: David Relos, Property Development Manager
_,�(/-
SUBJECT: Resolution No. 3460
900 — 1002 S. Lafayette Blvd. Disposition Offering Price
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST:
Attached is Resolution No. 3460, which sets the disposition offering price for 900 — 1002
S. Lafayette Blvd. These parcels comprised part of the Hamilton Towing and Airgas
facilities located at the southeast corner of Lafayette and Sample.
The proposed fair market value of the property, as derived by two independent
appraisals, is found in "Exhibit A" in the attached resolution.
Staff requests approval of Resolution No. 3460.
INTERNAL USE ONLY: Project Code:
Total Amount new/change (inc/dec) in budget: -0- ; Breakdown:
Costs: Engineering Amt: ; Other Prof Sery Amt ;
Acquisition of Land/Bldg (circle one) Amt: ; Street Const Amt ;
Building Imp Amt ; Sewers Amt ; Other (specify) Amt:
Going to BPW for Contracting? Y/N
Is this item ready to encumber now? _N/A_ Existing PO# Inc/Dec $
EXCELLENCEACCOUNTABILITY ! INNOVATION INCLUSION I EMPOWERMENT
1400S County -City Building 1 227 W. Jefferson Blvd.1 South Bend, Indiana 46601 p 574.235.93711 f 574.235.90211 www.southbendin.gov
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION ESTABLISHING THE OFFERING PRICE OF
PROPERTY IN THE RIVER WEST DEVELOPMENT AREA
WHEREAS, the South Bend Redevelopment Commission (the "Commission"),
the governing body of the City of South Bend, Department of Redevelopment, exists
and operates pursuant to I.C. 36-7-14 (the "Act"); and
WHEREAS, the Commission may dispose of real property in accordance with
Section 22 of the Act; and
WHEREAS, the real property identified at Exhibit A attached hereto and
incorporated herein 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's files; and
WHEREAS, each such appraisal has been reviewed by a qualified
Redevelopment staff person, and no corrections, revisions, or additions were requested
by such reviewer.
NOW, THEREFORE, BE IT RESOLVED by the Commission, pursuant to Section
22 of the Act, that based upon such appraisals, the offering price of the property
described at Exhibit A is hereby established as stated therein, which amount is not less
than the average of the two appraisals, and all documentation related to such
determination is contained in the Commission's files.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
October 25, 2018, at 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT
COMMISSION
Marcia I. Jones, President
ATTEST:
Donald E. Inks, Secretary
EXHIBIT A
TO RESOLUTION NO. 3430
Property
Size
Minimum Offering
Price
Proposed Use
900 — 1002 S. Lafayette
$55,500
Commercial projects that
Blvd.
1.2 Acres +/-
are permitted within the
Light Industrial or lesser
zoning designation.
Strong emphasis will be
placed during the review
process on compatibility
with the goals and
objectives of the River
West Development Area,
the Ignition Park planning
area, and the surrounding
businesses and
neighborhood.