6D(1) Termination of Covenants - Laserfiche WebLink

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~ ~ C ~~ SpUTH 6 ~V~~\~ee ice ~~j Community & Economic Development ``~~=- ~ ~~U~r---~- ~ ~a?. 7865 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: Termination of Covenants and Restrictions u4 Ivy Tech /Habitat for Humanity Date: August 20, 2010 In 2006, the Redevelopment Commission deeded several parcels of land along East Sample Street to Habitat for Humanity. The Contract for Sale of these parcels included a redevelopment agreement. This redevelopment agreement contained deed restrictions and covenants running with the land. Upon completion of the redevelopment, a Certificate of Completion would be granted, and the deed restrictions and covenants would be released. Since the redevelopment of these parcels was never completed, the Certificate of Completion was not granted, and the deed restrictions and covenants remain in place. This property has recently been acquired and donated to Ivy Tech for their campus expansion. Ivy Tech has requested these deed restrictions be terminated. Since the deed restrictions pertain to Habitat's redevelopment of the real estate, and since Habitat no longer owns this real estate, Staff requests your approval of this Termination of Covenants and Restrictions, which will remove the deed restrictions put in place in 2006. What We Do Today Makes A Difference!