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~ ~ ~ z~ <br />~,~S~F <br />0~"4 .~,~ ~I ,;, <br />\% d~ <br />Community & Economic Development '~r`~"w~a~~ <br />~~,~ <br />1865.. ~: <br />1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601-1830 Phone 574/235-9371 Fax 574/235-9021 <br />To: Redevelopment Commission <br />From: David Relos, Economic Development Planner ~~ <br />Subject: Res. No. 2706 -Acquisition Offer for 1514 S Chapin St. <br />Date: July 9, 2010 <br />This is the staff report for the acquisition of 1514 S Chapin St. This property was added to <br />the Airport Economic Development Area Acquisition List by Resolution No. 2668 on May <br />21, 2010. It was added in an effort to clean and clear the southern boundary of Ignition <br />Park, and to help stabilize the Rum Village neighborhood to the south. The Rum Village <br />Neighborhood Association strongly supports the redevelopment of this area on the north <br />side of Indiana Avenue. <br />This particular property is a two story, three bedroom single family residence. The property <br />owner would like participate in the goals of the Commission in its efforts to clean and clear <br />this area, and contacted Staff of their interest in selling this property. <br />Resolution No. 2706 sets the acquisition value of the property at $23,500. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2706, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />