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(0 � (�_) <br />Community & Economic Development <br />. is . <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 Planneal <br />Subject: Res. No. 2930 — Acquisition Offer for 1526 S. Catalpa <br />Date: August 23, 2011 <br />This is the staff report for the acquisition of 1526 S. Catalpa. 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 vacant house in poor condition. It is a three bedroom, <br />on bath, 1,392 square foot structure. <br />This property was purchased by the Commission in the March 2010 County Commissioner <br />Tax Sale, and was later redeemed. It is currently listed on the County's September 14, <br />2011 tax sale for $2,040.16. <br />Resolution No. 2930 sets the acquisition value of the property at $2,500. The acquisition <br />value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 2930, to allow staff to register and bid on this <br />property in the maximum amount of $2,500. <br />What We Do Today Makes A Difference! <br />