HomeMy WebLinkAboutResolution No. 3322 Establishing the Offering Price of Property - Ignition Park SouthRESOLUTION NO. 3322
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, 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 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.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
January 14, 2016, at 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT
COMMISSION
Marcia I. Jones, r sident
ATT ST:
ks,�& (�� � L - -
D nald E. Inks, Secretary
EXHIBIT A
TO RESOLUTION NO. 3322
Property
Size
Minimum Offering
Price
proposed Use
The area bounded by
Lot:
Entire site
Commercial projects that
Indiana, Kemble, Scott, and
$223,500
are permitted within the
the Norfolk Southern Rail
11.89 Acres +/-
Light Industrial zoning
Road in Ignition Park
designation.
South, inclusive of vacated
Per Acre Value
streets and alleys
1 — 5: $19,250
Strong emphasis will be
5 +: $18,750
placed during the review
process on compatibility
with the goals and
objectives of the River
West Development Area;
Ignition Park Planning
Area; and the surrounding
neighborhood.
4000.0000036 38097825.002