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HomeMy WebLinkAbout5B1 Resolution No. 3616 Disposition Offering Price COSB (214 W. Wayne St.) - SignedSouth Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item D ATE : 11/14/2024 FROM: Joseph Molnar, Assistant Director of Growth & Opportunity SUBJECT: Disposition of 214 W. Wayne St Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. * Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the authorization of the expenditure of such funds shall be void and of no effect. PURPOSE OF REQUEST: Begin Disposition Process of 214 W. Wayne St. SPECIFICS: The Redevelopment Commission (RDC) acquired 214 W. Wayne St. (the “Property”) through a certain Real Estate Purchase Agreement executed on November 15, 2023 for the sum of $200,000.00. Staff believe this property is a prime redevelopment opportunity for the Downtown area. The attached three documents – Bid Specifications, Noticed of Intended Disposition, and Resolution establishing offering price – are the beginning of the process for the property to be redeveloped and set the following conditions for a bid on the Property: - $226,000.00 minimum bid (average of two appraisals) -All bids will be due by 9:00 a.m. on December 12, 2024 and opened publicly at the RDC meeting on December 12, 2024 -During the review process, emphasis will be placed on compatibility with and support of the goals and objectives of the surrounding businesses and neighborhood and the Development Plan for the River West Development Area. This parcel is currently a parking lot for City employees but will no longer be needed once the staff move to the new City Hall building in 2025. Staff requests approval of all three items. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION 11-14-2024  RESOLUTION NO. 3616 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 November 14, 2024 at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. SOUTH BEND REDEVELOPMENT COMMISSION ____________________________ Troy Warner, President ATTEST: ____________________________ Vivian G. Sallie, Secretary EXHIBIT A TO RESOLUTION NO. ____ Offering Sheet Property Size Minimum Offering Price Proposed Re-Use Lots 281 & 282 & W 1/2 Vac Alley E & Adj O P South Bend 018-3008-0251 71-08-12-160-001.000- 026 Commonly Known As 214 W. Wayne St. Site: 0.52 acres $226,000.00 Projects that are permitted within the DT Downtown 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.