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South Bend Redevelopment Commission <br />Regular Meeting — October 25, 2011 <br />agreement to acquire this property. This <br />property is a large, five bedroom, two bath, <br />two story house. It is 2,284 square feet, with <br />recent improvements, including new second <br />story thermo windows, new bath room and <br />kitchen, and laminate flooring. The property <br />owner has expressed interest in selling this <br />property, but is not interested in being <br />relocated under the terms of the Act. She <br />would instead like a lump sum payment. <br />Following the Act, total estimated acquisition <br />and relocation costs associated with this <br />property would be $67,000. The owner has <br />agreed to sell for $65,000, which is the price <br />paid this past August for a similar, but <br />smaller, property across the street. Staff feels <br />the acquisition cost of $65,000 is reasonable <br />for this property, and requests your approval <br />of the administrative settlement. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission approved the Administrative <br />Settlement for acquisition of 1528 S. <br />Kemble. <br />(8) Resolution No. 2946 related to acquisition <br />of property in the Airport Economic <br />Development Area (1521 S. Kemble). <br />Mr. Relos noted that 1521 S. Kemble Ave. <br />was added to the Airport Economic <br />Development Area Acquisition List by <br />Resolution No. 2668 on May 21, 2010. <br />This particular property is a two story duplex <br />containing two units. Both units are two <br />bedroom, one bath, with a kitchen, living, <br />and dining room. Total square footage is <br />1,776, with a three car garage. Resolution <br />No. 2946 sets the acquisition value of the <br />19 <br />COMMISSION APPROVED THE ADMINISTRATIVE <br />SETTLEMENT FOR ACQUISITION OF 1528 S. <br />KEMBLE <br />