No. 2241 approving a development agreement with gameday centers Southeastern, LLC and related matters

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• CONTRACT FOR SALE OF LAND FOR PRIVATE DEVELOPMENT THIS CONTRACT FOR SALE OF LAND FOR PRIVATE DEVELOPMENT (this or the "Contract "), made on April 21, 2006, between GAN EDAY CENTERS SOUTHEASTERN, LLC, a limited liability company organized under the laws of the State of Georgia and having its principal place of business at 2555 Cumberland Parkway, Suite 200, Atlanta, Georgia 30339 (the "Developer ") and the SOUTH BEND REDEVELOPMENT COMMISSION, the governing body of the City of South Bend, Indiana, Department of Redevelopment, established and operating under Indiana Code § 36- 7 -14 -1 et seq., as amended (the "Act "), having its office at 1200 County -City Building, South Bend, Indiana (the "Commission "). RECITTALS: WHEREAS, the Commission has investigated areas within the corporate boundaries of the City of South Bend, Indiana (the "City ") and has prepared and approved the South Bend Central District Development Plan ( "Plan ") to develop the area known as the South Bend Central District Development Area, a copy of which Plan and amendments thereto have been recorded in the St. Joseph County Recorder's Office; and WHEREAS, the Commission and the Developer have entered into a Development Agreement dated April 21, 2006 (the "DevelopmentAgreement "), pursuant to which the Developer has committed to construct, develop and equip a structure consisting of (i) a parking facility containing approximately three hundred fifty -nine (359) parking spaces; (ii) a condo and hotel development containing approximately one hundred fifty (150) condos and providing approximately one hundred (100) hotel spaces (assuming the condo owners make them available for such purpose); and (iii) ground floor retail shops and/or restaurants totaling approximately 12,000 square feet (collectively, the "Project "), all on the Site (as defined below); and WHEREAS, pursuant to the Development Agreement, the Commission has offered to transfer, and.the Developer is willing to accept, the property commonly described as 121 S. St. Joseph Street, South Bend, Indiana 46601 and more particularly described at Exhibit A of this Contract (the "Property ") to provide for the development of the Project on the Property in accordance with the Plan, the Site Plans (as defined herein), the Development Agreement, and this Contract; and WHEREAS, the Commission believes that developing the Project on the Property in accordance with the Development Agreement and this Contract is in the best interest of the health, safety and welfare of the City and its residents and complies with the public purposes and provisions isof the Act and applicable federal, state and local laws under which the development has been undertaken and is being assisted; and