No. 2188 approving execution of purchase agreement and other related documents associated with purchase of property loacted at 117 W. South St., 720, 722, 724 and 726 S. Michigan St. in SB cda

Home Browse Search

RESOLUTION NO. 2188 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING THE EXECUTION OF A PURCHASE AGREEMENT AND OTHER RELATED DOCUMENTS ASSOCIATED WITH THE PURCHASE OF PROPERTY LOCATED AT 117 WEST SOUTH STREET, 720, 722, '724 AND 726 SOUTH MICHIGAN STREET IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA WHEREAS, the City of South Bend ( "City") acting by and through the South Bend Redevelopment Commission ( "Commission "), governing body of the City of South Bend Department of Redevelopment, may acquire by purchase interests in property in accordance with the powers granted to redevelopment commissions under IC 36 -7 -14 ( "Act ") (the Commission is hereinafter referenced as "Buyer "); and WHEREAS, the Commission has through the adoption of its Resolution No. 2187 approved the acquisition of certain real property and improvements located within the South Bend Development Area and more commonly known and numbered as 117 West South Street, 720, 722, 724 and 726 South Michigan Street all properties being located within St. Joseph County, Indiana and more particularly described legally at Exhibit "A(1) "attached hereto and incorporated herein (the aforementioned real estate and improvements thereto are hereinafter referenced collectively as the "Property "), and WHEREAS, the Purchase Agreement and other documents necessary to effect the acquisition of the Property as well as certain assets associated therewith are being finalized by legal counsel; and WHEREAS, the Commission approves and endorses the transaction as presented at its public meeting held on October 7, 2005 and desires to enter into a Purchase Agreement with the Property owners; and WHEREAS, the Commission recognizes that time of the essence in order to accomplish certain actions relating to the transaction. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1. The Commission hereby approves and endorses the Purchase Agreement in such form