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Community & Economic Development <br />6 � (�4cq) <br />ups <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fox 574/235 -9021 <br />To: Redevelopment Commission <br />From: David Relos, Economic Development Planner <br />Subject: Res. No. 3034 — Acquisition Offer for 1502 S. Kendall <br />Res. No. 3043 — Acquisition Counter Offer for 1502 S. Kendall <br />Date: June 14, 2012 <br />This staff report is for the acquisition of 1502 S. Kendall. This property was added to the <br />Airport Economic Development Area's Acquisition List by Resolution No. 2668 on May 21, <br />2010. It was added in an effort to clean and clear the southern boundary of Ignition Park, <br />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, three bedroom, 1,122 square foot single family rental <br />unit. It is one of two properties on Kendall Street yet to be acquired. It is currently vacant, <br />so no relocation costs will be incurred. <br />Resolution No. 3034 sets the offering price of the property at $22,050. The offering price is <br />the average value as determined by two independent appraisals. <br />Resolution No. 3043 is the counter offer by the property owner, which is $23,000. <br />Staff feels this counter offer is reasonable, and requests approval of Resolution No. 3034 <br />and 3043, to allow for the acquisition of this property. <br />What We Do Today Makes A Difference! <br />