HomeMy WebLinkAbout5A7 Resolution No. 3523 (Disposition Offering Price 738 Leland)
Redevelopment Commission Agenda Item
DATE: September 10, 2020
FROM: Andrew Netter, Property Development Analyst
SUBJECT: Resolution No. 3523
738 N. Leland Disposition Offering Price
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST:
Attached is Resolution No. 3523, which sets the disposition offering price for 738 N.
Leland.
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. 3523.
INTERNAL USE ONLY: Project Code: _______________________________________________;
Total Amount new/change (inc/dec) in budget: ____-0-___________; Breakdown:
Costs: Engineering Amt: ______________________; Other Prof Serv 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 $_____________
RESOLUTION NO. 3523
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION ESTABLISHING THE OFFERING PRICE OF
PROPERTY NEAR 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. 3523
Property Size
Minimum Offering
Price
Proposed Use
738 N. Leland
.14 Acres +/-
$29,000
Residential projects that
are permitted within the
U1 (Urban Neighborhood
1) 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 standards of the
Chapin Park Local
Historic District; and the
surrounding businesses
and neighborhood.