6C(11) Real Estate Donation Agreement (Ivy Tech)

Home Browse Search

i~ ~ ~i~ SpUTy eF ~ ~ bFol'il';;/, do _~ ~ \ Iv ,~A~~- yl Community & Economic Development ~,;.,',~ 1865..'. 1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601-1830 Phone 574/235-9371 Fax 574/235-9021 To: Redevelopment Commission From: David Relos, Economic Development Planner/` Subject: Real Estate Donation Agreement Habitat property to Ivy Tech Date: July 9, 2010 On August 26, 2009, the Commission approved the addition of four properties along East Sample St to the acquisition list of the Airport Economic Development Area. These properties were added in an effort to help Ivy Tech expand classroom, storage, and parking needs in light of their large increases in enrollment. If staff was able to acquire any of these properties, Legal would then work with Ivy Tech on the donation of the property to Ivy Tech. Attached to this staff report is the Real Estate Donation Agreement for the first property to be donated to Ivy Tech. It is the Habitat Restore property at the corner of Sample and Fellows. Habitat is still using this property as they prepare their new location for their eventual move, which is to take place before November 1. The purchase agreement between the Commission and Habitat is recognized and included as an exhibit in the donation agreement. Ivy Tech is very appreciative of the Commission's help, as they try to find ways to accommodate as many students as possible. Being able to show community support for our local Ivy Tech is important when the Ivy Tech Foundation decides where to spend the dollars given them, and the Commission's partnership with Ivy Tech in this endeavor is a great indicator of the community's support. Staff requests approval of this donation agreement, which allows the transfer of the Habitat Restore, at 412 E Sample Street, to Ivy Tech. What We Do Today Makes A Difference!