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Commission approves purchase of 742 South Main, appropriates $245,000 for acquisition costs
Summary
Elkhart’s redevelopment commission approved buying 742 South Main for $235,000 and appropriating $245,000 from the Consolidated South Elkhart Economic Development Redevelopment Area special fund to cover acquisition-related costs.
The Elkhart City Redevelopment Commission on Oct. 14 approved the purchase of 742 South Main Street for $235,000 and appropriated $245,000 from the Consolidated South Elkhart Economic Development Redevelopment Area special fund to cover acquisition-related costs.
Staff described 742 South Main as the property immediately north of a previously acquired parcel (referred to as the "Mr. Bubbles" property) and said they had been negotiating with the current owner; the owner was reviewing the agreement at the time of the meeting.
"So you need a motion to approve the purchase of the property at 742 South Main Street for $235,000, approving the terms and conditions of the purchase agreement and appropriating $245,000 from the consolidated South Elkhart economic development redevelopment area special fund to cover the costs of the acquisition related costs," a staff member said.
Commissioners approved the resolution by voice vote. Staff said they expected a response from the property owner within a day or so.
