2. Minutes 10/15/10 meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting — October 15, 2010 6. NEW BUSINESS (CONT.) D. Airport Economic Development Area (2) continued... Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission approved the Amendment to Christopher Burke Engineering contract for demolition of 236 Sample Street for the fee proposed (3) Administrative Settlement for acquisition of 1513 S. Catalpa St. Mr. Relos noted that on August 6, 2010 the Commission set the acquisition offering price for 1513 S. Catalpa at $25,700, the average of two independent appraisals. The property is a rental. The income approach values the property at $27,500. The owner would not be able to replace the property at either appraised value. The home is a two - story, three- bedroom, 1,200 sft, home with enclosed front porch, back deck and fenced yard. After much negotiation, the property owner has agreed to accept $35,000, an amount they feel is adequate to replace the property with a similar income producing property. Staff recommends approving the administrative settlement of $9,300. Upon a motion by Mr. Downes, seconded by Ms. King and unanimously carried, the Commission approved the administrative settlement of $9,300 for acquisition of 1513 S. Catalpa St. (4) Resolution No. 2780 related to acquisition of property in the Airport Economic Development Area (1503 -1505 S. Kemble Ave.) 20 COMMISSION APPROVED THE AMENDMENT TO CHRISTOPHER BURKE ENGINEERING CONTRACT FOR DEMOLITION OF 236 SAMPLE STREET FOR THE FEE PROPOSED COMMISSION APPROVED THE ADMINISTRATIVE SETTLEMENT OF $9,300 FOR ACQUISITION OF 1513 S. CATALPA ST.