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RESOLUTION NO. 2817 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ESTABLISHING THE FAIR USE VALUE OF AND OFFERING FOR SALE CERTAIN PROPERTY IN THE AIRPORT ECONOMIC DEVELOPMENT AREA (IGNITION PARK) WHEREAS, the South Bend Redevelopment Commission (the "Commission"), the governing body of the Department of Redevelopment of the City of South Bend, Indiana (the "City") and the City of South Bend, Indiana, Redevelopment District (the "District"), exists and operates under the provisions of Indiana Code § 36-7-14, as amended (the "Act"); and WHEREAS, under the authority granted by Indiana Code § 36-7-14, et seq. and in furtherance of the Airport Economic Development Area Plan ("Plan"), the Commission has determined that it is appropriate to offer for sale 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, the Property has been appraised by two qualified, independent, professional real estate appraisers and a written and signed copy of their appraisals is contained in the Commission's files; and WHEREAS, each such appraisal has been reviewed by a qualified Redevelopment staff person and no corrections, revisions or additions were requested by such reviewer; and WHEREAS, the reviewer has prepared a written report which indicates that the appraisals are complete and consistent in the factual data contained therein, comply with existing statutory and regulatory requirements and are acceptable for the determination of fair use value of the Property. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, governing body of the City of South Bend Department of Redevelopment that: 1. Based upon such appraisals and the review thereof, the offering price of the Property described at Exhibit "A" is hereby established as stated therein and all documentation related to such determination is contained in the Commission's files. 2. Authorized agents of the Commission and the staff of the Commission are hereby authorized and directed to cause an offering sheet and related documents to be published in accordance with Indiana Code § 36-7-14-22. 3. The Commission will open and consider all offers submitted at 4:00 p.m. on February 8, 2011, or as soon thereafter as the business of the Commission shall permit.