No. 2125 adopting certain findings related to the disposition of property located at 3950 William Richardson Ct.

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• Resolution No. 2125 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ADOPTING CERTAIN FINDINGS RELATED TO THE DISPOSITION OF PROPERTY LOCATED AT 3950 WILLIAM RICHARDSON COURT (Toll Road Industrial Park, Lot 2A) WHEREAS, the South Bend Redevelopment Commission ("Commission") is the governing body of the City of South Bend Department of Redevelopment and pursuant to I.C. 36-7-14-11 has the duty to promote the use of land in a manner that best serves the interests of the City of South Bend and its inhabitants; and WHEREAS, the Commission is the owner of certain real property located at 3950 William Richardson Court ("Property") within the Toll Road Industrial Park of the Airport Economic Development Area ("Area"), said Property being more particularly described at Exhibit A attached hereto and incorporated herein; and WHEREAS, the Commission intends to dispose of the Property in order to facilitate economic development of the Area and has heretofore offered the Property for sale without success through the public bidding process prescribed by I.C. 36-7-14; and WHEREAS, the Property in its existing condition will require substantial site preparation including, but not limited to, clearing, and substantial fill and site grading in order to create a site that it suitable for development; and WHEREAS, it is estimated that the cost to the Commission to complete said site preparation will be significant and that without such site preparation the value of the Property in its existing state is significantly reduced; and WHEREAS, the Commission believes that in its current condition, the Property cannot accommodate a development project of a size or quality that is consistent with the Development Plan for the Area; and WHEREAS, Majority Builders, Inc. ("Developer") is currently involved in a retail development project abutting the Property and Developer is removing certain fill from said retail project which could be utilized on the Property at a considerable savings to the Commission; and •