2 Minutes 06-16-13 Meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting —June 26, 2013 6. NEW BUSINESS B. Airport Economic Development Area (2) continued... Fuerbringer Landscaping, who installed the original landscaping, agreed to weed, mulch, and trim the beds in the amount of $4,905. Mr. Harwood has paid this bill, so the park's entrance and Memorial were presentable for the tour. Staff requests approval to reimburse Mr. Hardwood in the amount of $4,905, and thanks him for his concern in the appearance of the park. Upon a motion by Mr. Downes, seconded by Ms. Schey and unanimously carried, the Commission authorized reimbursement to Jay Harwood for landscaping services in the amount of $4,500 in the Oliver Plow Industrial Park. (3) Staff report on Administrative Settlement for acquisition of property in the Airport Economic Development Area (725 W. Indiana Ave.) Mr. Relos noted that on May 30, 2013 the Commission approved Resolution No. 3141, setting the acquisition offering price for 725 W. Indiana Ave. at $51,500, the average appraised value of the real estate and improvements only. The property, owned by Barany Sheet Metal, contains three parcels that equal 14,880 square feet, or almost 1/3 acre. An industrial building containing a total of 8,400 square feet of usable space is located on the property. To relocate this business, another building that could accommodate it would need to be found, and that building brought up to current building and fire codes. In addition, actual moving costs would be incurred. Current industrial zoned buildings on the market are either too large, too small, or need a large amount of work to accommodate this type of business. One possible fit currently on the market is an 8,181 square foot building for $350,000. Actual moving costs would be an additional expense. After three years of ongoing efforts to acquire and relocate this business, the property owner has agreed to a lump sum payment of $300,000. The owners will then take it upon themselves to find a location and move their business, which they have stated will stay in South Bend. Staff believes the administrative settlement of $248,500 ($300,000 less the acquisition cost of $51,500) for this business is reasonable, in light of relocation costs that would have been incurred, and requests approval to allow the acquisition of this property. Ms. Schey asked whether an environmental assessment of the property will show that it is clean. Mr. Relos responded that it will.