HomeMy WebLinkAbout5A1 Resolution No. 3575 (Disposition Offering Price 1202 S Lafayette)
Redevelopment Commission Agenda Item
DATE: 06/2/23
FROM: Joseph Molnar
SUBJECT: Establishing Offering Price
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST: Establishing Offering Price
1202 S. Lafayette
Specifics: Attached is a resolution establishing the offering price of property in the River West
Development Area for the disposition of property at 1202 S. Lafayette. The property has been
vacant for a number of years.
The minimum offering price of $32,700 is the average of two appraisals by qualified,
independent, professional real estate appraisers.
Staff requests approval of the offering price for the eventual disposition of these properties.
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. 3575
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
June 8, 2023, at 1308 County-City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT
COMMISSION
____________________________
Marcia I. Jones, President
ATTEST:
____________________________
Vivian Sallie, Secretary
EXHIBIT A
TO RESOLUTION NO. 3575
Property Size
Minimum Offering
Price
Proposed Use
1202 S. Lafayette
018-8004-0164
018-8004-0162
Site:
39,500 SF +-
$32,700
Projects that are permitted
within the U3 Urban
Neighborhood 3 zoning
designation.
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 and the surrounding
businesses and neighborhood.