No. 2815 related to acquisition of property in the South Bend CDA (1st Source Bank, 122 Niles Ave., formerly Troegger Sheet Metal)

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RESOLUTION NO. 2815 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION RELATED TO ACQUISITION OF PROPERTY IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA WHEREAS, under the authority granted by Indiana Code § 36 -7 -14, et seq. and in furtherance of the South Bend Central Development Area Plan ( "Plan "), the South Bend Redevelopment Commission ( "Commission ") has determined that it is necessary to acquire unencumbered fee simple interest in certain property located within the area heretofore designated as the South Bend Central Development Area (the "Area ") within the City of South Bend, Indiana (the "City "), which property is more particularly described at Exhibit A attached hereto and incorporated herein ( "Property "); and WHEREAS, on April 9, 2010, the Commission adopted Resolution No. 2666 amending the Plan and adding the Property to the Area's acquisition list; and WHEREAS, two (2) independent appraisals of the Property have been obtained in accordance with Indiana Code § 36- 7- 14- 19(b), which provide an offering price of $404,500.00 (the "Offering Price "); and WHEREAS, the Property Owner has indicated that it will accept an offer to purchase the Property for the price of $400,000.00 (the "Agreed Offering Price ") which is lower than the value determined by the two independent appraisers; and WHEREAS, the Commission now desires to authorize its authorized agents, hired for such purposes, or the staff of the Commission to provide and negotiate an offer for the Purchase of the Property in accordance with Indiana Code § 36- 7- 14-19, which may include relocation costs and the Commission's payment of expenses incidental to the conveyance and determination of the title of the Property; and WHEREAS, the Commission finds that all procedures necessary for authorizing and acquiring the Property have been completed in accordance with Indiana law; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission that: 1. Authorized agents of the Commission and 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 Property as described at Exhibit A at the Agreed Offering Price in accordance with Indiana Code § 36- 7- 14-19, which offer or process may include relocation costs and the payment of expenses incidental to the conveyance and determination of the title of the Property. L