HomeMy WebLinkAboutNo. 2480 approving the fair market value of property in the SBCDA (118 N. Main St., JMS Parking Lot)RESOLUTION 2480
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROVING THE FAIR MARKET VALUE OF PROPERTY IN THE SOUTH
BEND CENTRAL DEVELOPMENT AREA
WHEREAS, the property listed on attached "Exhibit A" 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 qualified Redevelopment
staff, and no further corrections, revisions, or additions were requested by such review;
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 value; and
WHEREAS, the reviewer recognizes exceptional factors and has recommended a
• re-use value in excess of this appraisal average.
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 fair value for the re-use
indicated of the property listed in "Exhibit A", attached hereto and made apart hereof, is
established as shown thereon and all documentation related to such determination is
contained in the Commission files.
Adopted at the regular meeting of the South Bend Redevelopment Commission held on
the ls` day of August, 2008 in Room 1308 of the County-City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
City of South Bend, Indiana
Redevelopment Comm' s n
Marcia I. Jones, President
Attest:
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}~ rl G. Kin, "ce-President
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EXHIBIT A
Resolution 2440
Offering Sheet
Disposition Parcel
Parcel Size Minimum Purchase Price Proposed Re-Use
118 N Main St.
(Tax ID 18-1008-0330) 8479 SF (0.2 acres) $200,000 Parking to Support
Redevelopment of the
JMS Office Building
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