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G C (-7) <br />UTH <br />o . d u nn <br />Community & Economic Development <br />/865 <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574)235 -9371 Fax 5741235 -9021 <br />To: Redevelopment Commission <br />From: David Relos, Economic Development Planner <br />Subject: Res. No. 2763 — Acquisition Offer for 1534 —1536 Prairie Ave. <br />Date: September 17, 2010 <br />This is the staff report for the acquisition of 1534 — 1536 Prairie Ave. This property was <br />added to the Airport Economic Development Area Acquisition List by Resolution No. 2668 <br />on May 21, 2010. It was added in an effort to clean and clear the southern boundary of <br />Ignition Park, and to help stabilize the Rum Village neighborhood to the south. The Rum <br />Village Neighborhood Association strongly supports the redevelopment of this area on the <br />north side of Indiana Avenue. <br />This particular property is a two story duplex. Total square footage is 2,565. Unit one is a <br />three bedroom, two bath, with unit two being a two bedroom, one bath. Both units are <br />leased. <br />The property owner would like participate in the goals of the Commission in its efforts to <br />clean and clear this area, and contacted Staff of their interest in selling this property. <br />Resolution No. 2763 sets the acquisition value of the property at $,78,000. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2763, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />