6.C.(4) Resolution No. 2507 - Laserfiche WebLink

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Community & Economic Y ' e, yn~T[I bG ,r"Y ~~~F,y'~ Y'v i' ~ cf Development `~~=a ..::~;~~ Hd 7.:~ f 1200 Co,~~ty-Gty Bu ding, 227 West Jefferson, Sou h Bend, Irdlara 46601-1830 Phore 574/235-9371 Fax 5741235-9021 To: Redevelopment Commission From: Bill Schalliol, Economic Development Planner ~ ~; Subject: Resolution 2507 -Setting Acquisition Price for 911 Marietta Property Date: September 30, 2008 Attached to this staff report is Resolutions 2507 which relates to property at 911 Marietta Street within the Airport Economic Development Area. The property contains amulti-story house and an adjacent vacant lot. The property is located in an area in which the Redevelopment Commission has purchased properties over the last seven years. The property was added to the Sample-Ewing Development Area acquisition list by Resolution 1839 on July 7. 2001. The parcels proposed for acquisition include the following: 18-7018-0748 ~ 911 Man.etta l Mendora Trotter 18-7018-0748.01 Resolution 2507 The purpose of Resolution 2507 is to set the acquisition value for the property at 911 Marietta. The property consists of a two story house and an adjacent vacant lot with total property dimensions of 50 x 130' (6,459 SF). The average appraised value as determined by two qualified appraisers in 2001 was $47.840.00. However, at this time, the house is being sold as part of a settlement for Medicaid and is presently listed for sale at $11,900.00. The house has been damaged by vandals and was planned to be a tear-down so the reduced value is very acceptable. This property, along with 24 others, was added to the SEDA Acquisition List in 2001 as part of a strategy to acquire substandard housing and commercial parcels that were located in an area adjacent to then recently constructed Southeast Neighborhood Park. The acquisition purpose was twofold: removing the non- consistent land uses and create an area for a future expansion of the park. The "Sample Triangle" is bounded by the railroad, Sample Street and High Street. The Commission has assembled 32 of the total 41 parcels to create this development site. The acquisition of these two parcels would leave one commercial structure (3 lots with one building and all are on tax sale) and one single family house (2 lots) to be acquired. One of the lots is owned by Sprint and contains a telecom building and the last lot is owned by the railroad. Summary Staff requests approval of Resolutions 2507 to acquire the property at 911 Marietta. The Commission owns the adjacent parcels and this acquisition is in keeping with past Commission acquisitions. The house; in its present condition, is a nuisance property that needs to be demolished. The reasonable price for the acquisition is key to this transaction and staff requests your favorable approval. What We Do Today Makes A Difference!