No. 2137 relating to acquisition of real property Sample/Ewing development area (New Jersey, Indiana & Illinois Railroad Company)

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E RESOLUTION NO. 2137 A RESOLUTION RELATING TO THE ACQUISITION OF REAL PROPERTY IN THE SAMPLE-EWING DEVELOPMENT AREA WHEREAS, it is deemed necessary and desirable by the South Bend Redevelopment Commission ("Commission"), in furtherance of the Sample-Ewing Development Area Development Plan, to acquire unencumbered fee title to the real property identified at Attachment "A", hereto ("Parcel"), which Parcel is located in the Sample-Ewing Development Area in the City of South Bend, Indiana. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: The Director is authorized, at his discretion, to cause a notice and written offer to be made to the owner(s) of the Parcel, to purchase the Parcel, or a portion thereof, under the following conditions: 1. The offering price shall be One Hundred Three Thousand Two Hundred-Fifty Dollars ($103,250.00). 2. The payment shall be made at closing and will be in the amount not to exceed One Hundred Three Thousand Two Hundred-Fifty Dollars ($103,250.00). One Hundred Percent (100%) of this offer shall be retained in a reserved environmental fund. In the event of the discovery of any Environmental Condition, the City at the City's sole discretion, may, either (1) proceed to closing and take title to the property and utilize or retain funds in the reserved environmental fund to pay for all cleanup costs incurred or to be incurred by City to eliminate said Environmental Condition; or (2) terminate, revoke, and withdraw this Acquisition Offer and dissolve the fund, with all such monies being retained by the City. Adopted at the Scheduled Meeting of the South Bend Redevelopment Commission held on February 4, 2005, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. SOUTH BEND RED OPMENT COMMISSION By Its: "'� OFZ(AHIL