Laserfiche WebLink
South Bend Redevelopment Commission <br /> Regular Meeting—October 25, 2011 <br /> 6. NEW BUSINESS <br /> E. Airport Economic Development Area <br /> (6) continued... <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED RESOLUTION No.2945 <br /> Mr. Varner and unanimously carried, the APPROVING AND AUTHORIZING THE EXECUTION <br /> Commission approved Resolution No. 2945 OF AN ADDENDUM TO THE MASTER AGENCY <br /> AGREEMENT(IGNITION PARK PHASE IA <br /> approving and authorizing the execution of INFRASTRUCTURE). <br /> an Addendum to the Master Agency <br /> Agreement (Ignition Park Phase I <br /> Infrastructure). <br /> (7) Administrative Settlement for acquisition <br /> of 1528 S. Kemble. <br /> Mr. Relos noted that on July 23, 2010, the <br /> Commission approved Resolution No. 2728, <br /> setting the offering price for acquisition of <br /> 1528 S. Kemble property at $40,500, the <br /> average of two independent appraisals. Staff <br /> has been working with the property owner <br /> since that time, to reasonably reach an <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 /> 21 <br />