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South Bend Redevelopment Commission Regular Meeting —June 14, 2011 property died without a will, and staff has been working with her heirs since July of last year to work through the process of setting up an estate so this property could be acquired. Since the property owner's death, one son has lived in the house, making payments on the mortgage, paying the taxes, and maintaining the property. According to the attorney for the estate, this son has a pending petition to receive the first $80,000 of the estate's proceeds (primarily this property). Under the relocation act, this son is eligible for relocation benefits. Following the Act, the estimated acquisition and relocation costs associated with this property would be $47,000. Instead of being relocated under the Act, the son would prefer to receive a lump sum payment of $50,000. This payment would be made to the estate. The approximate mortgage payoff is $11,000. The remaining $39,000 would be used as a down payment by the son and his wife toward a new home. Staff feels the total acquisition cost of $50,000 is reasonable for this property, and requests your approval of the administrative settlement for 1525 S. Kemble Ave. Upon a motion by Mr. Varner, seconded by Mr. Alford and unanimously carried, the Commission approved separately Administrative Settlement for properties at 1518 S. Scott St. and 1525 S. Kemble Avenue. (7) Resolution No. 2888 approving and authorizing the execution of an Addendum 41 COMMISSION APPROVED SEPARATELY ADMINISTRATIVE SETTLEMENT FOR PROPERTIES AT 1518 S. SCOTT ST. AND 1525 S. KEMBLE AVENUE.