HomeMy WebLinkAboutagenda item 2016 0222 rdc 05b3O�6pUT$B
Department of
Cz
Community Investment
1865
Memorandum
January 14, 2016
TO: South Bend Redevelopment Commission
FROM: David Relos, Economic Resources �•
SUBJECT: Resolution No. 3329
Hamilton Towing Disposition Offering Price
ITEM: 5.13.(3)
Attached is Resolution No. 3329, which sets the disposition offering price for the SW
corner of Lafayette and Sample, being an area bounded by Franklin, Garst, Lafayette,
and Sample streets, within the River West Economic Development Area. This block
formerly housed Hamilton Towing and Ziolkowski Construction.
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. 3329.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV
RESOLUTION NO. 3329
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
February 22, 2016, at 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT
COMMISSION
Marcia I. Jones, President
ATTEST:
Donald E. Inks, Secretary
EXHIBIT A
TO RESOLUTION NO. 3322
Property
Size
Minimum Offering
Price
Proposed Use
The SW corner of Lafayette
Lot:
Entire site
Commercial projects that
and Sample, being an area
$xxx,xxx
are permitted within the
bounded by Franklin, Garst,
4.15 Acres +/-
Ignition Park PUD zoning
Lafayette, and Sample
designation.
streets
Strong emphasis will be
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.