HomeMy WebLinkAboutNo. 2335 approving the fair market value of property in the South Bend Central Development Area (412 S Lafayette, Enzyme Research)• RESOLUTION NO. 2335
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE FAIR MARKET VALUE,OF
PROPERTY IN THE SOUTH BEND CENTRAL 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 May 8,
2007, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
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Martc Geld Roa eselo resldeommission
ATTEST:
South Bend Redevelopment Commission
Gregory S. Downes, Secretary
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Parcel
Enzyme Research
Disposition Parcel
412 South Lafayette Blvd.
EXHIBIT "A"
RESOLUTION NO. 2335
Size (Minimum Offering Price
+ 18,315 SF ', $ 267,500.00
111' x 165'
9,795 SF Building
Proposed Re-Use
Commercial office or
professional office uses in
accordance with the
"CBD" Central Business
District zoning
designation.
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