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South Bend Redevelopment Commission <br /> Regular Meeting—June 14, 2011 <br /> BUSINESS (CONT.) <br /> D. Airport Economic Development Area <br /> (6) continued... <br /> for relocation benefits. Following the Act, <br /> the estimated acquisition and relocation costs <br /> associated with this property would be <br /> $47,000. Instead of being relocated under <br /> the Act, the son would prefer to receive a <br /> lump sum payment of$50,000. This <br /> payment would be made to the estate. <br /> The approximate mortgage payoff is <br /> $11,000. The remaining $39,000 would be <br /> used as a down payment by the son and his <br /> wife toward a new home. <br /> Staff feels the total acquisition cost of <br /> $50,000 is reasonable for this property, and <br /> requests your approval of the administrative <br /> settlement for 1525 S. Kemble Ave. <br /> Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED SEPARATELY <br /> Mr. Alford and unanimously carried, the ADMINISTRATIVE SETTLEMENT FOR PROPERTIES <br /> Commission approved separately AT 1518 S. SCOTT ST.AND 1525 S.KEMBLE <br /> AVENUE. <br /> Administrative Settlement for properties at <br /> 1518 S. Scott St. and 1525 S. Kemble <br /> Avenue. <br /> (7) Resolution No. 2888 approving and <br /> authorizing the execution of an Addendum <br /> to the Master Agency Agreement (Ignition <br /> Park South Expansion Area Demolitions). <br /> Mr. Relos noted that to date, there have been <br /> two emergency demolitions along this area of <br /> Indiana Avenue and one demo by Code <br /> Enforcement. Staff would like to proceed <br /> with demolishing more of the properties the <br /> Commission has acquired over the last year. <br /> 46 <br />