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RESOLUTION N0.2693 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION RELATED TO ACQUISITION OF PROPERTY IN THE AIRPORT ECONOMIC DEVELOPMENT AREA (1521 S. Scott) WHEREAS, under the authority granted by Indiana Code~~' 36-7-14, et sey. and in furtherance of the Airport Economic Development Area Plan ("Plan"), the South Bend Redevelopment Commission ("Commission") has determined that it is necessary to acquire unencumbered fee simple interest in certain property located within the area heretofore designated as the Airport Economic Development Area (the "Area") within the City of South Bend, Indiana (the "City"), which property is more particularly described at Exhibit A attached hereto and incorporated herein ("Property'); and WHEREAS, on May 21, 2010, the Commission adopted Resolution No. ?668 amending the Plan and adding the Property to the Area's acquisition list; and WHEREAS, two (2) independent appraisals of the Property are in process in accordance with Indiana Code ti 36-7-14-19(b), which appraisals are anticipated to provide an offering price of $45,000.00 (the "Offering Price"): and WHEREAS, the Property Owner has indicated that it will accept an offering price of $10,800.00 (the "Agreed Offering Price") which is lower than the value anticipated from the two independent appraisers; and WHEREAS, the Commission now desires to authorize its authorized agents, hired for such purposes, or the staff of the Commission to provide and negotiate an offer for the Purchase of the Property, subject to receipt of appraisals establishing a value greater than the Agreed Offering Price, in accordance with Indiana Code § 36-7-14-19, which may include relocation costs and the Commission's payment of expenses incidental to the conveyance and determination of the title of the Property; and WHEREAS, the Commission finds that all procedures necessary for authorizing and acquiring the Property have been provided for in accordance with Indiana 1 aw; NOW, THEREFORE, BE IT RESOLVED by the Sout11 Bend Redevelopment Commission that: 1. Authorized agents of the Commission and the staff of the Commission are hereby authorized and directed to cause a purchase offer to be made in writing to the owner(s) of the Property as described at Exhibit A at the Agreed Offering Price (the "Agreed Offering Acquisition Price" in Exhibit A), subject to receipt of appraisals establishing a value greater than the Agreed Offering Price, in accordance with Indiana