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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 /> (6) continued... <br /> Staff, therefore, feels this lump sum <br /> administrative settlement of$50,000 is <br /> reasonable for this property and its two <br /> parcels of land, and requests your approval of <br /> the administrative settlement. <br /> Upon a motion by Mr. Alford, seconded by COMMISSION APPROVED ADMINISTRATIVE <br /> Mr. Downes and unanimously carried, the SETTLEMENT FOR 1521-1527 S.KENDALL <br /> Commission approved Administrative STREET. <br /> Settlement for 1521 — 1527 S. Kendall Street. <br /> (7) Resolution No. 2926 related to acquisition <br /> of property in the Airport Economic <br /> Development Area (622 E. Sample Street). <br /> Mr. Sikora noted that 622 E. Sample Street <br /> was added to the Airport Economic <br /> Development Area Acquisition List by <br /> Resolution No. 1839 on July 20, 2001. It <br /> was added as part of an effort to create a site <br /> for a proposed expansion of South East <br /> Neighborhood Park. This particular property <br /> is a two-story, 1,806 square foot, three- <br /> bedroom single family residence. The <br /> property owner contacted Staff of their <br /> interest in selling this property. Resolution <br /> No. 2926 sets the acquisition value of the <br /> property at $27,000, the average value as <br /> determined by two independent appraisals. <br /> Staff requests approval of Resolution <br /> No. 2926. <br /> Upon a motion by Mr. Alford, seconded by COMMISSION APPROVED RESOLUTION No.2926 <br /> Mr. Downes and unanimously carried, the RELATED TO ACQUISITION OF PROPERTY IN THE <br /> Commission approved Resolution No. 2926 AIRPORT ECONOMIC DEVELOPMENT AREA(622 <br /> related to acquisition of property in the E. SAMPLE STREET. <br /> 23 <br />