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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 /> (5) continued... <br /> St. was added to the Airport Economic <br /> Development Area Acquisition List by <br /> Resolution No. 2668 on May 21, 2010. It is <br /> a one story, wood post, metal sided auto <br /> garage on two parcels of land. The building <br /> is 1,664 square feet, has 200 amp electrical <br /> service, private office, and contains one <br /> bathroom. This building was built by the <br /> owner in 1990. <br /> Resolution No. 2925 sets the acquisition <br /> value of the property at $25,000, the average <br /> of two independent appraisals. Staff requests <br /> approval of Resolution No. 2925. <br /> Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED RESOLUTION No.2925 <br /> Mr. Downes and unanimously carried, the RELATED TO ACQUISITION OF PROPERTY IN THE <br /> Commission approved Resolution No. 2925 AIRPORT ECONOMIC DEVELOPMENT AREA <br /> related to acquisition of property in the (1521-1527 S.KENDALL STREET. <br /> Airport Economic Development Area (1521 <br /> — 1527 S. Kendall Street). <br /> (6) Administrative Settlement for 1521 — 1527 <br /> S. Kendall Street. <br /> Mr. Relos noted that the owners of 1521- <br /> 1527 S. Kendall Street have made a counter <br /> offer to the Commission's offer of$25,000. <br /> They wish to receive a lump sum payment of <br /> $50,000 that includes the purchase price and <br /> relocation costs. This property was built as <br /> an automotive garage, and is currently being <br /> used for auto storage. Since the property is <br /> similar to 1520— 1526 S Chapin St. on <br /> today's agenda, staff assumes the relocation <br /> costs would also amount to at least $69,900. <br /> 22 <br />