HomeMy WebLinkAbout5A1 Resolution No. 3521 (Disposition Offering Price 117 S William)�uTH,&
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CITY OF SOUTHBEND
REDEVELOPMENT COMMISSION
Redevelopment Commission Agenda Item
DATE: September 10, 2020
FROM: David Relos, Property Development Manager
SUBJECT: Resolution No. 3521
117 S. William St. Disposition Offering Price
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST:
Attached is Resolution No. 3521, which sets the disposition offering price for 117 S.
William St.
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. 3521.
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 $
EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT
14005 County -City Building 227 W. Jefferson Blvd. South Bend, Indiana 46601 p574.235.9371 f574.235.9021 www.southbendin.gov
RESOLUTION NO. 3521
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, Indiana, 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 (the "Property") 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.
IT IS FURTHER RESOLVED that all notices and other actions required by
Section 22 of the Act be performed in order to effectuate the disposal of the Property.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
September 10, 2020, at 1308 County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT
COMMISSION
Marcia I. Jones, President
ATTEST -
Quentin M. Phillips, Secretary
EXHIBIT A
TO RESOLUTION NO. 3521
I
Property Size Minimum Offering Proposed Use
Price
117 S. William St. Projects that are
permitted within the
018-3010-0325 & 018- 11,435 sf $60,500 Neighborhood Center
3010-0327 zoning designation.
018-3010-0358Strong emphasis will be
5,717 sf +/- 30 000 placed during the review
process on compatibility
with and support of the
goals and objectives of
the River West
Development Area and
the surrounding
businesses and
neighborhood.