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HomeMy WebLinkAboutResolution No. 3614 - Disposition Offering Price Bendix SiteSouth Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE: 10/21/2024 FROM: Joseph Molnar, Assistant Director of Growth & Opportunity SUBJECT: Disposition of Lot 2 Bendix Drive Minor Subdivision 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 Lot 2 of the Bendix Drive Minor Subdivision SPECIFICS: The Redevelopment Commission (RDC) acquired Lot 2 of the Bendix Drive Minor Subdivision (the “Property ”) through a certain Real Estate Purchase Agreement executed on January 25, 2024 for the sum of $277,750.00. Staff believe this property is a prime redevelopment opportunity for the surrounding neighborhood. 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: -$277,750 minimum bid (average of two appraisals) -All bids will be due by 9:00 a.m. on November 25, 2024 and opened publicly at the RDC meeting on November 25, 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. Proposed re-uses that contemplate future development of self- storage facilities, car washes, and/or gas stations on the property will be rejected. Staff requests approval of all three items. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION 10-24-2024  RESOLUTION NO. 3614 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 acquired certain real property identified at Exhibit A attached hereto and incorporated herein (the “Property”) through a certain Real Estate Purchase Agreement executed on January 25, 2024 for the sum of $277,750.00 (the “Acquisition Price”); and WHEREAS, the Commission may dispose of real property in accordance with Section 22 of the Act; and WHEREAS, 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 October 24, 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. 3614 Offering Sheet Property Size Minimum Offering Price Proposed Re-Use Lot 2 South Bend Comm School Corp Bendix Dr Minor 025-1010-040525 71-03-28-276-004.000- 009 (see map on page 9) Site: 5.1 acres $277,750.00 Projects that are permitted within the I Industrial 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. Proposed re-uses that contemplate future development of self-storage facilities, car washes, and/or gas stations on the property will be rejected.