HomeMy WebLinkAbout5A1 Resolution No. 3558 (Disposition Offering Price 117-119 Lafayette)Redevelopment Commission Agenda Item
DATE:
FROM:
SUBJECT:
9/16/22
Joseph Molnar
Lafayette Building Disposition Offering Price
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST: A Resolution establishing the Disposition Offering Price of the Lafayette
Building and 117/119 Lafayette Blvd. Also approving the supplemental RFP.
Specifics: Attached is a resolution to establish the disposition offering price for the
Lafayette Building and 117/119 Lafayette Blvd.
The proposed fair market value of the property, as derivided by two independent
appraisals, is found in "Exhibit A" in the attached Resolution. Staff has also created a
Request for Proposal for the property. Any sale of the property during this offering will be
subject to to the terms set forth in the RFP.
Staff requests approval.
INTERNAL USE ONLY: Project Code: _______________________________________________; Total
Amount new/change (inc/dec) in budget: _______________; Break down:
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? ____ Existing PO#__________ Inc/Dec $_____________
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
RESOLUTION NO. XXX
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 Department of
Redevelopment staff person, and no corrections, revisions, or additions were requested
by such reviewer; and
WHEREAS, the Commission has determined that it is in the best interests of the
City of South Bend and its residents to offer the Property for sale subject to a request
for proposals (“RFP”), which the Commission has reviewed.
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 the Commission approves of the release of the
RFP in substantially the same form in which it was presented.
IT IS FURTHER RESOLVED that any sale of the Property made during this
offering will be subject to the terms set forth in the RFP.
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.
Signature Page Follows
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
September 22, 2022, at 1308 County-City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT
COMMISSION
____________________________
Marcia I. Jones, President
ATTEST:
____________________________
Troy Warner, Secretary
EXHIBIT A
TO RESOLUTION NO. XXX
Property Size Minimum Offering
Price Proposed Use
115 & 117/119 Lafayette
Blvd.
71-08-12-151-003.000-026
71-08-12-151-004.000-026
37,000 sf +/-
building with
0.1628 acre
parking lot
$392,100.00
Projects that are
permitted within the DT
Downtown Zoning District.
Strong emphasis will be
placed during the review
process on compatibility
with and support of the
goals and objectives of
the River West
Development Area, the
surrounding businesses
and neighborhood, and
the property’s local
historic designation.