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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -July 9, 2010 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(2) Resolution No. 2706 related to acquisition <br />of property in the Airport Economic <br />Development Area (1514 S. Chapin St.) <br />Mr. Relos explained items 6.B.(2) through <br />6.B.(8). All those properties were added to <br />the Airport Economic Development Area <br />Acquisition List by Resolution No. 2668 on <br />May 21, 2010. They were added in an effort <br />to clean and clear the southern boundary of <br />Ignition Park, and to help stabilize the Rum <br />Village neighborhood to the south. The Rum <br />Village Neighborhood Association strongly <br />supports the redevelopment of this area on <br />the north side of Indiana Avenue. In all <br />cases, the acquisition offer is set as the <br />average value of two independent appraisals. <br />Mr. Relos noted, that 1514 S. Chapin is a two <br />story, three bedroom single family residence. <br />Resolution No. 2706 sets the acquisition <br />value of the property at $23,500. <br />Upon a motion by Mr. Alford, seconded by <br />Ms. King and unanimously carried, the <br />Commission approved Resolution No. 2706 <br />related to acquisition of property in the <br />Airport Economic Development Area (1514 <br />S. Chapin St.) <br />(3) Resolution No. 2707 related to acquisition <br />of property in the Airport Economic <br />Development Area (823 W. Indiana Ave.) <br />Mr. Relos noted that 823 W. Indiana is a <br />vacant lot at the northeast corner of Indiana <br />Avenue and Catalpa Street. Resolution <br />No. 2707 sets the acquisition value of the <br />property at $2,450. <br />18 <br />COMMISSION APPROVED RESOLUTION NO.27O6 <br />RELATED TO ACQUISITION OF PROPERTY IN TAE <br />AIRPORT ECONOMIC DEVELOPMENT AREA <br />(1514 S. CHAPIN ST.) <br />