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South Bend Redevelopment Conmzission <br />Regular Meeting -September ] 7, 2010 <br />6. NEW BUSINESS (CONT.) <br />E. Airport Economic Development Area <br />(6) continued... <br />with the property owner, within the <br />acquisition and relocation sections of the Act, <br />to reasonably reach an agreement to acquire <br />this property. <br />The property owner has expressed his <br />interest in selling this property, but he is not <br />interested in being relocated under the terns <br />of the Act. Since he lives alone, he instead <br />wants to search for a house that is in need of <br />repairs. He can then get a house for a decent <br />price and fix it up himself, as he has with this <br />property. <br />Following the Act, total estimated acquisition <br />and relocation costs associated with this <br />property would be X43,200. The property <br />owner has stated he would take $35,000, of <br />which approximately $10,000 would go to <br />pay off the land contract balance owing. In <br />addition, we would pay his fixed moving <br />expense of $1,700, for a total payment of <br />X36,700. <br />Stafffeels the total acquisition cost of <br />X36,700 is reasonable for this property, in <br />light of its size, condition. and amenities, and <br />requests Commission approval of the <br />Administrative Settlement. <br />Ms. Jones said she wanted to make sure the <br />o~~ner here couldn't come back later and <br />demand he be allowed to follow the Act. She <br />wanted him to sign off in some way. Mr. <br />Relos said that could be handled in the <br />Purchase Agreement. <br />15 <br />