HomeMy WebLinkAboutNo. 2448 approving the Fair Market Value of Property in the Northeast Neighborhood Development AreaRESOLUTION 2448
ELOPMENT COMMISSION
RESOLUTION OF THE SOUTH BEND REDEV
APPROVING THE FAIR MARKET VALUE OF PROPERTY IN THE
NORTHEAST NEIGHBORHOOD 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 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.
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 special meeting of the South Bend Redevelopment Commission held on
the 11`" day of April, 2008 in Room 1308 of the County-City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
City of South Bend, Indiana
edevelopment Comm Sion
Marcia I. Jones, President
Attest:
regory S. Downes, Secretary
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EXHIBIT A
Resolution
Offering Sheet
Disposition Parcel
Parcel Size Minimum Lease Price Proposed Re-Use
Napoleon & Eddy
(see legal description; property
has not been assigned Tax 1D no.) 2.20 acres $742,500 Eddy Street Commoh Smixed use
Development
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Legal Description
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A PART OF THE NORTH HALF OF THE NORTHWEST QUARTER OF SECTION 6,
TOWNSHIP 37 NORTH, RANGE 3 EAST, PORTAGE TOWNSHIP, CITY OF SOUTH
BEND, ST JOSEPH COUNTY, INDIANA DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT THAT IS N. 89°50' 18" E., 29.87 FEET AND N. 0°38'49" E.
296.52 FEET FROM THE NORTHEAST CORNER OF LOT NUMBER 73 OF HARTMAN
AND MILLER'S PLAT, WHICH IS RECORDED IN PLAT BOOK 7, PAGE 29, IN THE
OFFICE OF THE REORDER OF ST. JOSEPH COUNTY, INDIANA; THENCE N. 89°21' 11"
W., 71.25 FEET; THENCE S. 00°38'48" W., 139.46 FEET; THENCE N. 89°21' 11" W., 354.71
FEET; THENCE N. 00°34'51" E., 248.42 FEET; THENCE S. 89°19'25" E., 426.26 FEET;
THENCE ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 200.00 FEET, AND
HAVING AN ARC DISTANCE OF 2.11 FEET, TO THE END OF A CHORD BEARING S.
00°56'54" W. AND HAVING A DISTANCE OF 2.11 FEET, THENCE S. 00°38'49" W.,
106.64 FEET, TO THE POINT OF BEGINNING, CONTAINING 2.20 ACRES MORE OR
LESS, SUBJECT TO ALL HIGHWAYS AND EASEMENTS OF RECORD.
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