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G~ 1~ C s~ <br />• • Sou e <br />3~ <br />/ t <br />Community & Economic Development ~~\`~?i <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(~i~/+,t/ . <br />Subject: Res. No. 2777 -Counter Offer for 1508 S. Scott St. <br />Date: October 01, 2010 <br />This is the staff report for the counter offer for 1508 S. Scott St. On August 06, 2010, the <br />Commission approved Resolution No. 2745. This resolution set the offer price for this <br />property at $26,750, which is the average value as determined by two independent <br />appraisals. <br />After various discussions with the owner, they feel the value of the property is $27,500. <br />This value is also the higher of the two appraisals. <br />This property is a two story, three bedroom, 1,280 square foot single family rental property, <br />which is currently vacant. <br />Staff feels this counter offer is a reasonable value for this property. <br />Staff requests approval of counter offer Resolution No. 2777, to allow for the acquisition of <br />this property. <br />What We Do Today Makes A Difference! <br />