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� ( -I) • v 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 Planner ' Subject: Administrative Settlement for acquisition of 1528 S. Kemble Date: October 25, 2011 This is the staff report for the administrative settlement that is needed for the acquisition of 1528 S. Kemble. According to the Uniform Relocation Act (Act), an administrative settlement is authorized in cases where an additional payment is necessary to acquire a property. On July 23, 2010, the Commission approved Resolution No. 2728, setting the offer price for this property at $40,500, which is the average appraised value. Staff has been working with the property owner since that time, to reasonably reach an agreement to acquire this property. This property is a large, five bedroom, two bath, two story house. It is 2,284 square feet, with recent improvements including new second story thermo windows, new bath room and kitchen, and laminate flooring. The property owner has expressed her interest in selling this property, but is not interested in being relocated under the terms of the Act. She would instead like a lump sum payment. Following the Act, total estimated acquisition and relocation costs associated with this property would be $67,000. The owner has agreed to sell for $65,000, which is the price paid this past August for a similar yet smaller property across the street. Staff feels the acquisition cost of $65,000 is reasonable for this property, and requests your approval of the administrative settlement to allow for the acquisition of this property. What We Do Today Makes A Difference!