6B (1) - Laserfiche WebLink

Home Browse Search

� 8 ( ►) Community & Economic Development 1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 To: South Bend Redevelopment Commission From: Bill Schalliol, ACED PS Subject: Disposition Proposal - Union Station Properties, L.P. 604 S. Scott Street (former Millennium Environmental, Inc.) Date: November 17, 2011 Attached to this staff report is a proposal from Union Station Properties, L.P. regarding their interest in purchasing the Commission owned property located at 604 South Scott Street in the Airport Economic Development Area. This 2.6 acre property, site of the former Millennium Environmental, Inc., was acquired by the Redevelopment Commission through an agreement with the St. Joseph County Commissioners in 2008. At the time the property was acquired by the Commission, there was $598,225.03 of delinquent property taxes, $249,374.00 in various judgments, $21,757 in personal property judgments, and various unpaid Code Enforcement citations. As part of the deal with the Commissioners and other agencies to waive all of the judgments and delinquent payments, the City committed to clear the site, coordinate with Indiana Department of Environmental Management to remediate various environmental issues, and ultimately put the property back into active use as an industrial development site. IDEM received demolition and remediation bids for the property on November 17th and is preparing to complete final clean -up on the southern end of the site. At this point, IDEM has issued a comfort letter for the northern end of the site. On June 14, 2011, the Redevelopment Commission approved Resolution No. 2897, which set the value of the property at $42,500 (the average of two MAI appraisals),. Staff reported on July 12, 2011 that no bids for the property were received, thus allowing the Redevelopment Commission to approve a purchase after 30 days' time at a negotiated price. The proposal before the Commission is from Union Station Properties. Staff has been working with Union Station Properties on their planning for a two phase development of a technology district centered around the Union Station technology center hub. Phase 1 of the project includes the following items: 1. Acquisition and reuse of the Millennium Environmental property 2. Vacation of United Drive to connect Millennium and Union Station properties 3. Development of an Electrical Express Feeder System for the Utility Network What We Do Today Makes A Difference!