No. 2544 related to acquisition of property in the AEDA (Burton, 1515 S. Franklin)

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t I"- L-1 A RESOLUTION OF 7 RELATED RESOLUTION NO. 2544 SOUTH BEND REDEVELOPMENT COMMISSION ACQUISITION OF PROPERTY IN THE ECONOMIC DEVELOPMENT AREA WHEREAS, under the authority granted by Indiana Code § 36 -7 -14, et seq. and in furtherance of the Airport Economic Development Area Plan ( "Plan "), the South Bend Redevelopment Commission ( "Commission ") has determined that it is necessary to acquire unencumbered fee simple interest in certain properties located within the area heretofore designated as the Airport Economic Development Area (the "Area ") within the City of South Bend, Indiana (the "City "), which properties are more particularly described at Exhibit A attached hereto and incorporated herein (the "Properties "); and WHEREAS, on June 25, 2008, the Commission adopted Resolution No. 2456 amending the Plan and adding the Properties to the Area's acquisition list; and WHEREAS, two (2) independent appraisals of the Properties have been obtained in accordance with Indiana Code § 36- 7- 14- 19(b), which provide the offering prices described at Exhibit A (the "Offering Price "); and WHEREAS, the Commission now desires to authorize the staff of the Commission to provide and negotiate an offer for the Purchase of the Properties in accordance with Indiana Code § 36 -7- 14-19, which may include the acquisition of an option and the Commission's payment of expenses incidental to the conveyance and determination of the title of the Properties; and WHEREAS, the Commission finds that all procedures necessary for authorizing and acquiring the Properties have been completed in accordance with Indiana law; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission that: 1. The staff of the Commission are hereby authorized and directed to cause a purchase offer to be made in writing to the owner(s) of the Properties as described at Exhibit A at the Offering Price (the "Average Acquisition Price" in Exhibit A) in accordance with Indiana Code § 36- 7- 14-19, which offer or process may include the acquisition of an option for the purchase price and the payment of expenses incidental to the conveyance and determination of the title of the Properties. 2. The Commission's attorney is hereby authorized and directed to negotiate and prepare documentation necessary to accomplish the acquisition of the Properties in accordance with this Resolution and in a form acceptable to legal counsel. .