6.B.(11) Resolution No. 2482 - Laserfiche WebLink

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~~r~e u ~A~~ > ~i Community & Economic Development `~= `~'~:a~` m 1200 Cocnry-City B~ iding, 227 Wesi Jefferson, Sou'h Beno, Indlar~ 46601 -1830 Phone 574/235-9371 Fax 5 7 4123 5-9 0 2 1 To: Redevelopment Commission j~ From: Bill Schalliol, Economic Development Planner Subject: Resolution 2482 -Setting Acquisition Price for 319 S. William Street Property Date: October 13, 2008 Attached to this staff report is Resolutions 2482 which relates to property at 319 S. William Street within the South Bend Central Development Area. The property is a vacant lot which had been used as a residential use over thirty years ago. The property is immediately adjacent to the single family house that the Commission recently purchased at 323 S William Street. The property was added to the South Bend Central Development Area acquisition list by Resolution 2441 on March 28, 2008. The parcels proposed for acquisition include the following: ~8-3012-0421 1 319 S. William Clifford EugeneShaw 1/2 & Oneida Joan Park I/2 Resolution 2482 The purpose of Resolution 2482 is to set the acquisition value for the property. The average appraised value as determined by two qualified appraisers is 57,250.00. This value includes the vacant lot which is 48' x 121' (5,808 SF) parcel. (See attached map) Summary Staff requests approval of Resolutions 2482. The purpose of the acquisition is twofold. First, it is for site control. The Commission owns the adjacent parcel to the south and a Resolution was presented earlier concerning the parcel to the north. The appraised value is reasonable and would allow for a better plan for the reuse of the block. Second, acquisition of this parcel is important as it would prevent an "island' situation where a use could be put on the block that would counter the activities planned for the site. The projected reuse plan for the block is for proposed for new housing concepts and acquisition will allow for consistent site control and planning within the context of the on-going Coveleski Park Planning effort. What We Do Today Makes A Difference!