6C(3) Administrative Settlement 1512 Scott

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c c 3) SpUTH B Community & Economic Development 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 Planneq- - Subject: Administrative Settlement - 1512 S. Scott St. Date: November 19, 2010 This is the staff report for the administrative settlement that is needed for the acquisition of 1512 S. Scott Street. According to the Uniform Relocation Act (Act), which has been adopted as the Commission's relocation policy, an administrative settlement is authorized in cases where an additional payment is necessary to acquire a property. On September 17, 2010, the Commission approved Resolution No. 2765, which authorized the purchase of this property based upon its average appraised value of $14,750. Staff has been working with the property owner, within the acquisition and relocation sections of the Act, to reasonably reach an agreement to acquire this property. The property owner has expressed his interest in selling this property, but is not interested in being relocated under the terms of the Act. Since he has family in Florida and wants to move to be closer to them, he would like a lump sum payment as settlement for the acquisition of this property. Following the Act, total estimated acquisition and relocation costs associated with this property would be $33,800. The property owner has stated he would be satisfied with a lump sum payment of $30,000. Staff feels the total acquisition cost of $30,000 is reasonable for this property, in light of its size, condition, and amenities, and requests your approval of the administrative settlement to allow the acquisition of this property. What We Do Today Makes A Difference!