6D(1) Staff report on Indiana Avenue acquisitions

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(~~ • • ~`~O~ ~" eFti ~,~~~^~ ~ J ~ o ~4~ Community & Economic Development r ~~ IB65 1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601-1830 Phone 574/235-9371 Fax 574/235-9021 To: Redevelopment Commission From: David Relos, Economic Development Planne Subject: Update: Indiana Ave Acquisitions Date: September 03, 2010 On May 21, 2010, the Commission approved Confirming Resolution No. 2668, which added 136 parcels in this target area, to the acquisition list of the Airport Economic Development Area. Previously, on August 26, 2009, the Commission approved Confirming Resolution No. 2596, which added14 parcels to this same area. These two resolutions added a total of 150 parcels on the north side of Indiana Avenue, between Franklin St on the east and Prairie Ave on the west. Of these 150 parcels, 21 were already owned by the City or Commission. This past March, 26 parcels were purchased at tax sale, six of which were later redeemed, leaving 20 parcels which we should receive tax deeds on in October. Seven parcels are rail road owned. As of Monday, August 30, staff has acquired 25 parcels from 19 different owners. To date, total acquisition and relocation costs have been $615,545, compared to $1,375,000 that had been budgeted for these parcels. Currently staff is in some form of negotiations with an additional 39 parcel owners, and has a signed purchase agreement but not yet closed with one owner who has three parcels. Of the remaining 35 parcels, some have had introductory discussions. Though much work remains, staff wishes to thank the Commission for the approvals necessary to carry out this project. It will expand Ignition Park by an additional 23 acres, and help stabilize the Rum Village neighborhood to the immediate south of this planning area. What We Do Today Makes A Difference!