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South Bend Redevelopment Commission <br />Regular Meeting -January 15, 2010 <br />boundary of Ignition Park, and to help <br />stabilize the Rurn Village neighborhood to <br />the south. The Rum Village Neighborhood <br />Association strongly supports the <br />redevelopment of this area on the north side <br />of Indiana Avenue. <br />This particular property is a one story, two <br />bedroom single family residence. The <br />property owner would like to participate in <br />the goals of the Commission in its efforts to <br />clean and clear this area, and contacted staff <br />with his interest in selling this property. <br />Resolution No. 2641 sets the acquisition <br />value of the property at $26,750, the average <br />value as determined by two independent <br />appraisals. <br />Upon a motion by Mr. Downes, seconded by <br />Ms. King and unanimously carried, the <br />Commission approved Resolution No. 2641 <br />related to acquisition of property in the <br />Airport Economic Development Area (1506 <br />S Taylor) <br />(5) Resolution No. 2642 approving and <br />accepting a counter offer for the <br />acquisition of property in the Airport <br />Economic Development Area (1506 S <br />Taylor) <br />Mr. Relos noted that the owner has made a <br />counter offer in the amount of $48,000. The <br />property owner had a licensed realtor do a <br />comparative market analysis for homes that <br />had sold in their neighborhood. This analysis <br />compared three similar homes that had sold <br />in the last year, with a median sales price of <br />$48,500. <br />In addition, the owner would like $4,000 in <br />COMMISSION APPROVED RESOLUTION NO.2641 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA <br />(1506 S TAYLOR <br />26 <br />