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� C_(3) <br />,,1{11'1, �o <br />Community & Economic Development' <br />• 1865 <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 <br />Subject: Administrative Settlement for the acquisition of 1512 S. Kemble <br />Date: January 24, 2012 <br />This staff report is for the administrative settlement that is needed for the acquisition of <br />1512 S. Kemble. According to the Uniform Relocation Act, an administrative settlement is <br />authorized in cases where an additional payment is necessary to acquire a property. <br />On September 27, 2011, the Commission approved Resolution No. 2940, setting the offer <br />price for this property at $12,250, which is its average appraised value. Staff has been <br />working with the property owner since that time, to reasonably reach an agreement to <br />acquire this property and relocate the occupant. <br />This property is a two story, four bedroom, 1,280 square foot single family residence. <br />Under our relocation policy, an additional $20,250 is eligible as a housing replacement <br />payment to move this property owner into a similar sized decent, safe, and sanitary home. <br />The owner has found another home, but an administrative settlement of $7,400 is needed <br />to purchase it ($12,250 acquisition cost + $20,250 housing replacement payment + $7,400 <br />administrative settlement = new home's price of $39,900). <br />Property acquisitions with relocation in this same immediate area have ranged from <br />approximately $50,000 to $70,000. <br />Staff feels an administrative settlement of $7,400 is reasonable compared with other <br />acquisitions in this area, and requests your approval of the administrative settlement to <br />allow for the acquisition of this property and the owner's relocation. <br />What We Do Today Makes A Difference! <br />