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South Bend Redevelopment Commission <br /> Regular Meeting—November 22, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Airport Economic Development Area <br /> (5) continued... <br /> for conducting a disposition appraisal on <br /> property owned by Honeywell, Inc. and <br /> adjacent to Bosch Braking Systems, Inc. (401 <br /> N. Bendix Drive), property currently owned <br /> by the Redevelopment Commission. Rick <br /> Pitts and David Waszak conducted earlier <br /> appraisals on the Bosch campus. Staff <br /> requests acceptance of the proposals in the <br /> amounts of$5800 and $4600 respectively. <br /> Mr. Varner asked if these will be two <br /> separate appraisals. Mr. Inks responded yes. <br /> If we bought the property we would only be <br /> buying it if we had a development project for <br /> it and then we would need both appraisals. <br /> Upon a motion by Ms. King, seconded by COMMISSION ACCEPTED THE PROPOSALS FROM <br /> Mr. Varner and unanimously carried, the RICK PITTS AND DAVID WASZAK FOR <br /> Commission accepted the proposals from APPRAISAL OF 401 N.BENDIx DRIVE <br /> Rick Pitts and David Waszak for appraisal of (HONEYWELL) <br /> 401 N. Bendix Drive (Honeywell). <br /> (6) Resolution No. 2959 approving the fair <br /> market value of property in the Airport <br /> Economic Development Area. (401 N. <br /> Bendix Drive) <br /> Mr. Sikora noted that Resolution No. 2959, <br /> sets the fair market value for 401 North <br /> Bendix. The entire property is 29.46 acres in <br /> size and is zoned "LP' or Light Industrial. <br /> The proposed fair market value of the <br /> property as listed on the attached resolution <br /> was derived by averaging two independent <br /> MAI appraisals. <br /> 16 <br />