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( 6 (0 <br />Community & Economic Development <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: Ann Kolata, Senior Redevelopment Specialist <br />David Relos, Economic Development Planner <br />Subject: Res. No. 3039 — Acquisition Offer for Hamilton properties <br />Date: May 31, 2012 <br />This staff report is to set the offering price for the acquisition of the Hamilton Towing and <br />Body Shop properties (see attached map). These properties were added to the Airport <br />Economic Development Area's Acquisition List by Resolution No. 2456 on June 25, 2008. <br />They were added in an effort to clean and clear the Studebaker Corridor for development of <br />Ignition Park. <br />Two of these properties are on the prominent corner of Lafayette and Sample, and the <br />northernmost property is needed for an electrical power station for the Renaissance District. <br />Resolution No. 3039 sets the acquisition value of these properties at $280,025. The <br />acquisition value is the average value as determined by two independent appraisals. <br />Staff requests approval of Resolution No. 3039, to allow for the acquisition of these <br />properties. <br />What We Do Today Makes A Difference! <br />