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Memorandum
September 11, 2014
TO: South Bend Redevelopment Commission
FROM: David Relos, Economic Resources(
SUBJECT: Resolution No. 3231
Lot 1 of the Ardmore Trail Minor Subdivision (Unity Gardens)
Attached is Resolution No. 3231, which sets the fair market value for Lot 1 of the
Ardmore Trail Minor Subdivision, currently used by Unity Gardens, within the Airport
Economic Development Area.
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. 3231.
ti
227 W.JEFFERSON BLVD. SOUTH BEND, IN 46601 I P: 574-235-9371 I FAX: 574-235-9021 I SOUTHBENDIN.GOV
1
RESOLUTION NO. 3231
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE FAIR MARKET VALUE OF
PROPERTY IN THE AIRPORT ECONOMIC DEVELOPMENT AREA.
WHEREAS, the property identified at Exhibit "A" attached hereto and
incorporated herein 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; and
WHEREAS, the reviewer has prepared a written report which indicates that the
appraisals are complete and consistent in the factual data contained therein, comply
with existing statutory and regulatory requirements and are acceptable for the
determination of fair market value.
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commission, governing body of the City of South Bend Department of Redevelopment,
that based upon such appraisals and the review thereof, the offering price of the
property described at Exhibit "A" is hereby established as stated therein and all
documentation related to such determination is contained in the Commission's files.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
September 11, 2014, at 1308 County-City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601 .
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
ATTEST:
EXHIBIT "A"
RESOLUTION NO. 3231
Property Size Minimum Offering
Proposed Use
Price
Lot 1 of the Ardmore Trail Lot: $97,500 Commercial projects that
Minor Subdivision are permitted within the
Currently parcels: ommunity Business
Yp 6.48 Acres cres +/-
018-2188 7089 zoning designation.
and
018-2191-719202 Strong emphasis will be
placed during the review
(property currently being process on compatibility
subdivided) with the goals and
objectives of the Airport
Economic Development
Area; La Salle Square
Planning Area; the
surrounding
neighborhood; and use of,
the property as a
community garden
serving the educational
and nutritional needs of
the area.