Each property was appraised by two separate appraisers several months ago and the averages of the two appraisals were released during the meeting. The three properties, the shopping complex on Water Street, the duplex on Garro Street and the multi use two story on East LaPorte Street. The average appraisal cost for the Water Street property was $92,100 while the duplex on Garro Street had an appraisal average of $71,500 and the multi use, two story structure on East LaPorte was appraised at $121,500.
The city attorney explained that the Troyer Group had originally anticipated construction to begin this fall so purchase and demolition of the three buildings was urgent. Surrisi said, “The urgency has been removed and the change in prospective has changed the equation.” To get a good competitive bid the decision was made to begin construction in the spring of 2013.
Members of the Redevelopment Commission authorized the attorney to offer compensation to the property owners. Once the property owners receive their offers they will have 30 days to respond. If they don’t respond the city could file proceedings in court to obtain the property. It was noted that the court proceedings would be completed prior to the start of the 2013 construction season.