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South Bend Redevelopment Commission <br />Regular Meeting — October 25, 2011 <br />given by their Executive Committee on <br />November 9. If approved, a closing would <br />be scheduled, with transfer to Indiana <br />Landmarks as soon thereafter as possible. <br />The attached letter from Indiana Landmarks <br />explains their plans for this historic property. <br />This property is a three - story, ten -unit, <br />granite block building, built in 1890 by the <br />well- respected local businessman, William <br />Kizer. The house contains 7,200 square feet <br />with a 2,000 square foot carriage house. It is <br />across the street from Copshaholm, the <br />Oliver family personal residence, which now <br />houses the Northern Indiana Center for <br />History. <br />Resolution No. 2947 sets the acquisition <br />value of the property at $411,000, the <br />average of two independent appraisals. Staff <br />requests approval of Resolution No. 2947. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Varner and unanimously carried, the <br />Commission approved Resolution No. 2947 <br />related to acquisition of property in the West <br />Washington- Chapin Development Area, <br />subject to legal review (803 W. Washington). <br />(2) Resolution No. 2948 approving and <br />accepting a counter offer for the <br />acquisition of property in the West <br />Washington - Chapin Development Area <br />(803 W. Washington). <br />Mr. Relos noted that the owner of 803 W. <br />Washington has submitted a counter offer of <br />$441,000. Of this $441,000, $30,000 will be <br />escrowed at closing. Upon closing with <br />Indiana Landmarks, it will be released and <br />used by them for exterior rehab (new roof, <br />tuck pointing, and windows). <br />21 <br />COMMISSION APPROVED RESOLUTION NO. 2947 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />WEST WASHINGTON - CHAPIN DEVELOPMENT <br />AREA, SUBJECT TO LEGAL REVIEW (803 W. <br />WASHINGTON) <br />