2. Minutes 02-19-10 Meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting –February 19, 2010 (Habitat Restore, 412 E. Sample Street) Mr. Relos noted that on January 15, 2010, the Commission accepted the Habitat for Humanity counter offer of $345,000 for its property located at 412 E. Sample Street, contingent on getting an outside appraisal on the new location, (the old Kroger store and parking lot at the corner of Main and Ewing) that is close to the value being paid for the Sample Street property. Habitat employed Richard McCloskey, a licensed MAI appraiser used routinely by staff to do commercial appraisals. Because both appraisals totaled nearly 100 pages, attached is the value page from both appraisals. The combined appraised value for both parcels is $328,000, which calculates to a 5% difference between the appraised value and the counter offer price. Because of the close proximity between the appraised value and the counter offer price, staff requests approval to move forward with the acquisition of the Habitat property at 412 E. Sample Street Ms. Jones thanked the staff for spending the extra time to satisfy the Commission’s questions about the acquisition and relocation process. They learned a lot and will be more confident in future negotiations. C Upon a motion by Ms. King, seconded by OMMISSION AGREED THAT THE COUNTER OFFER WAS REASONABLE AND DIRECTED STAFF Mr. Downes and unanimously carried the TO MOVE FORWARD WITH ACQUISITION OF THE Commission agreed that the counter offer H312E.SS ABITAT PROPERTY AT AMPLE TREET was reasonable and directed staff to move forward with acquisition of the Habitat property at 312 E. Sample Street. E. West Washington-Chapin Development Area 21