No. 2114 accepting the transfer of real property from SBCSC board of school trustees

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RESOLUTION NO 2114 A RESOLUTION OF THE SOUTH .BEND REDEVELOPMENT COMMISSION ACCEPTING THE TRANSFER OF REAL PROPERTY FROM THE SOUTH BEND COMMUNITY SCHOOL CORPORATION BOARD OF SCHOOL TRUSTEES WHEREAS, the South Bend Community School Corporation, (hereinafter, "SBCSC) and the South Bend Redevelopment Commission ( "Commission ") are parties to an agreement dated September 9, 2004 related to the School Administration Relocation Project; and WHEREAS, the Agreement has subsequently been revised and replaced with an Amended and Restated Agreement dated November 19, 2004 ( "Agreement "); and WHEREAS, under the terms of the Agreement, it is anticipated that in order to relocate its administrative operations, SBCSC will purchase the real property and improvements located at 215 South St. Joseph Street, more commonly known as the Century Building, which is more particularly described at Exhibit A attached hereto and incorporated herein ( "Property"); and WHEREAS, under the terms of the Agreement, the Commission will facilitate the School Administration Relocation Project by undertaking a variety of actions including accepting temporary title to the Property; and WHEREAS, the care, custody and control of SBCSC real estate is vested in the Board of School Trustees pursuant to I.C. 20- 5 -2 -2; and WHEREAS, SBCSC has negotiated for the purchase of the Property pursuant to that certain Real Estate Purchase and Sale Agreement dated September 9, 2004, as amended on November 19, 2004; and WHEREAS, SBCSC desires that the deed effecting transfer of the Property be issued to the City of South Bend, for the use and benefit of its Department of Redevelopment under the terms and conditions set forth in the Agreement including, but not limited to, the following: (i) SBCSC shall direct that the deed effecting the transfer of the Property to SBCSC be issued to the "City of South Bend, for the use and benefit of its Department of Redevelopment "; and (ii) The Commission shall accept title to the Property from SBCSC on a temporarybasis and shall petition the Indiana Board of Tax Review for relief of accrued taxes and penalties on the Property in accordance with I.C. 6-6.1 - 36 -'7; and (iii) The Commission's acceptance of title to the Property is subject to the terms F: \HOME \CGREENE \WPDATA\ PROJECTS\ SBCDA\ SBCOMMSCIIOOL\RESOLUTIONS \RES2114 RCACCEPTINGTRANSFER.DOC