HomeMy WebLinkAboutNo. 3059 approving the fair market value of property in the SBCDA (402 S. Lafayette Blvd.)RESOLUTION NO. 3059
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE FAIR MARKET VALUE OF
PROPERTY IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA.
WHEREAS, the 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; 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 market value.
ILI 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 offering price of the
property described at Exhibit "A" is hereby established as stated therein 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
August 16, 2012, at 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
ATT ST:
vid A. Varner, Vice - President
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
Marcia I. Jones, esident
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EXHIBIT "A"
RESOLUTION NO. 3059
Property
Size
Minimum Offering
Price
Proposed Use
i
Residential projects that
402 S. Lafayette Blvd.
14,355 ft2
$82,500
are permitted within the
018 - 3015 -0552
Lot: 87'x 165'
"CBD" District zoning
designation.
Strong emphasis will be
placed during the review
process on compatibility
j
with the goals and
objectives of the South
Bend Central
Development planning
area and the Coveleski
Redevelopment Area.