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South Bend Redevelopment Commission <br /> Regular Meeting—August 9, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> C. Airport Economic Development Area <br /> (3) continued... <br /> Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED RESOLUTION No.2924 <br /> Mr. Downes and unanimously carried, the RELATED TO ACQUISITION OF PROPERTY IN THE <br /> Commission approved Resolution No. 2924 AIRPORT ECONOMIC DEVELOPMENT AREA <br /> related to acquisition of property in the (1520-1526 S.CHAPIlV STREET. <br /> Airport Economic Development Area (1520 <br /> — 1526 S. Chapin Street). <br /> (4) Administrative Settlement for 1520— 1526 <br /> S. Chapin Street. <br /> Mr. Relos noted that the property owners of <br /> 1520-1526 Chapin Street have expressed <br /> interest in selling this property. The property <br /> was built as a tool and die shop, but is <br /> currently not being used. The owners have <br /> made a counter offer of$50,000, including <br /> acquisition and relocation. Staff searched <br /> currently listed properties for a similar sized <br /> building, to determine what relocation costs <br /> could have been. Prices began at $69,900. <br /> Staff feels this lump sum administrative <br /> settlement of$50,000 is reasonable for this <br /> property and requests your approval of the <br /> administrative settlement. <br /> Upon a motion by Mr. Alford, seconded by COMMISSION APPROVED ADMINISTRATIVE <br /> Mr. Downes and unanimously carried, the SETTLEMENT FOR 1520-1526 S.CHAPIN <br /> Commission approved Administrative STREET. <br /> Settlement for 1520 — 1526 S. Chapin Street. <br /> (5) Resolution No. 2925 related to acquisition <br /> of property in the Airport Economic <br /> Development Area (1521 — 1527 S. Kendall <br /> Street). <br /> Mr. Relos noted that 1521 - 1527 S Kendall <br /> 21 <br />