HomeMy WebLinkAboutNo. 3077 approving the fair market value of property in the SBCDARESOLUTION NO. 3077
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.
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
October 11, 2012, at 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
-
Marcia I. Jones esident
ATTEST:
40�1r,41 4421� -
Donald Alford, Sr /, Secretary
EXHIBIT "A"
RESOLUTION NO. 3077
Property I Size
514 Rush Street
1,056 ft2
018 - 3030 -1127
Lot: 36' x 135'
518 Rush Street
Lot: 30.5'x 135'
018- 3030 -1128
(V)
611 E. South Street
1,132 ft2
018 - 3030 -1132
Lot: 55' x 107'
613 E. South Street
792 ft2
018 - 3030 -1135
Lot: 35' x 72'
618 Lincolnway East
1,816 ft2
018 - 3030 -1119
Lot: 53'x 128'
622 Lincolnway East
1,416 ft2
018 - 3030 -1133
Lot: 60' x 106'
626 Lincolnway East
1,938 ft2
018 - 3030 -1134
Lot: 40' x 150'
636 Lincolnway East
Lot: 52' x 103'
018 - 3030 -1138
Avg Irreg. (V)
700 Block of South St
Lot: 40'x 62'
018- 3030 -1136
(V)
701 E. South Street
1,412 ft2
018 - 3030 -1137
Lot: 38' x 71'
(V) = Vacant Lot
Minimum Offering
Price
$32,500
$2,200
Proposed Use
$24,500 Residential projects that
are permitted within the
"MF1" or "SF2"
$22,500 Residential District
zoning designation.
$28,000
Strong emphasis will be
placed during the review'
process on compatibility
$20,000
with the goals and
objectives of the Monroe'
Park Neighborhood and
$27,000
the South Bend Central
Development planning
area, with an added
preference for owner
$2,250
occupied single - family
residences.
$1,600
$22,250
i