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019 <br />REGULAR MEETING <br />JANUARY 18, 1993 <br />1 <br />executed by Southhold. For this purpose, the sale of a house <br />shall be deemed to have occurred at the time title to the lot on <br />which the house is located is conveyed or a ground lease is <br />entered into as to such lot or the house itself is transferred or <br />conveyed to any party other than Southhold. <br />Therefore, Mr. Caldwell made a motion that the Resolution be <br />adopted. Mrs. Mueller seconded the motion which carried, and the <br />following Resolution No. 5-1993 was adopted: <br />RESOLUTION NO 5-1993 <br />A RESOLUTION OF THE BOARD OF PUBLIC WORKS <br />APPROVING THE TRANSFER OF REAL PROPERTY <br />TO SOUTHHOLD RESTORATIONS, INC. <br />WHEREAS, pursuant to I.C. 36-9-6-3, the Board of Public Works <br />of the City of South Bend (the "City") has custody of and may <br />maintain all real property of the City of South Bend; and <br />WHEREAS, the City owns the following described real property <br />situated in St. Joseph County, Indiana: <br />A part of Lot No. 23 in Denniston and Fellows <br />Addition to the Town, now City, of South Bend, which <br />part is bounded by a line running as follows: <br />Beginning ata point 45 feet 3 inches west from the <br />corner formed by the intersection of the South line <br />of South Street with the West line of Columbia <br />Street; thence South 7 rods to a public alley; <br />thence West along the North line of said alley 45 <br />feet; thence North 7 rods to the South line of South <br />Street; thence East along the South line of South <br />Street 45 feet to the place of beginning, commonly <br />known and described as 316 East South Street, South <br />Bend, Indiana ("Real Property"); and <br />WHEREAS, the City is desirous of conveying the Real Property <br />to Southhold Restorations, Inc., an Indiana nonprofit corporation <br />exempt from federal income taxation under Section 501 of the <br />Internal Revenue Code; and <br />WHEREAS, Southhold Restorations, Inc., is desirous of <br />receiving the Real Property from the City; and <br />WHEREAS, pursuant to I.C. 36-1-11-1(b)(7), the City of South <br />Bend, acting by and through the City, may exchange or transfer <br />property with an Indiana nonprofit corporation; and <br />WHEREAS, the City has agreed to convey the Real Property to <br />Southhold Restorations, Inc., and Southhold Restorations, Inc., <br />has agreed to accept the Real Property from the City for One <br />Dollar ($1.00) and other good and valuable consideration. <br />NOW; THEREFORE, BE TT RESOLVED BY THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AS FOLLOWS: <br />1. That the conveyance of the following -described real <br />property by the City of South Bend, acting by and through its <br />Board of Public Works, to Southhold Restorations, Inc.: <br />A part of Lot No. 23 in Denniston and Fellows <br />Addition to the Town, now City, of South Bend, <br />which part is bounded by a line running as <br />follows: Beginning at a point 45 feet 3 inches <br />west from the corner formed by the intersection of <br />