No. 2169 approving execution of agreement for purchase/sale of real extate related to real property and improvements located at 1303, 1315, 1321-1323 S. Michigan St. in the Sample-Ewing development area and accepting title to said properties

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001100 Dollars ($175,000.00) in settlement of the Lawsuit with Kitty Kat, Inc. and to complete the acquisition of the Kitty Kat Properties; and WHEREAS, the care, custody and control of City real estate is vested in the Board of Public Works (`Board ") pursuant to I.C. 36- 9 -6 -3; and WHEREAS, the Board, desires that title to the Kitty Kat Properties be vested in the "City of South Bend, for the use and benefit of its Department of Redevelopment" in order to facilitate the Commission's efforts in redeveloping the area known as the Sample - Ewing Development Area in which the Kitty Kat Properties are located; and WHEREAS, it is anticipated that on May 23, 2005, the Board will adopt its Resolution No. 40 -2005 wherein the Board approves and authorizes the execution of an Agency Agreement appointing the Commission to act as the Board's agent for purpose of accepting title to the Kitty Kat Properties and it is anticipated that on May 20, 2005, the Commission will adopt its Resolution No. 2168 approving and authorizing the execution of said Agency Agreement accepting the agency appointment from the Board; and WHEREAS, the Agency Agreement further contemplates that the Commission will execute an agreement entitled "Agreement for Purchase and Sale of Real Estate" ( "Purchase Agreement ") in which the City, through the Commission, acquires interest in and title to certain real property and improvements described above as the Kitty Kat Properties. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: Section 1. Consistent with the above- described Agency Agreement by and between the Commission and the Board, the Commission hereby approves of the execution of the Purchase Agreement, the form of which is attached hereto and incorporated herein as Exhibit "A ", with such changes as the Commission may deem necessary or appropriate upon the advice of legal counsel, said execution thereof to be conclusive evidence of the Commission's approval of such changes. Section 2. The Commission hereby agrees to close the real estate transaction under the authority granted the Commission by I.C. 36- 7 -14 -1 et seq. and, upon advice of legal counsel, to execute all contracts and other necessary documents related to same on behalf of the Commission. Section 3. This Resolution shall be in full force and effect after its adoption by the Commission. •