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South Bend Redevelopment Commission <br /> Regular Meeting—October 25, 2011 <br /> 6. NEW BUSINESS <br /> F. West Washington-Chapin Development Area <br /> (1) continued... <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 COMMISSION APPROVED RESOLUTION No.2947 <br /> Mr. Varner and unanimously carried, the RELATED TO ACQUISITION OF PROPERTY IN THE <br /> Commission approved Resolution No. 2947 WEST WASHINGTON-CHAPIN DEVELOPMENT <br /> UREA,SUBJECT TO LEGAL REVIEW(803 W. <br /> related to acquisition of property in the West WASHINGTON) <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 /> Staff feels the acquisition cost of$441,000 <br /> for this property is reasonable, and requests <br /> your approval of Resolution No. 2948. <br /> 24 <br />