05/29/07 Board of Public Works Minutes

Home Browse Search

~.~~ PUBLIC AGENDA SESSION MAY 24, 2007 WHEREAS, a certain property, previously known as the Education Center for the South Bend Community School Corporation (the "School Corporation"), is located at the southwest corner of Main and South Streets and the southeast corner of Main and Bronson Streets within the City of South Bend, St. Joseph County, Indiana together with the parking lots associated with the same (the Education Center and related parking lots being collectively hereinafter referred to as the "Education Center") which is more particularly described at Exhibit A, attached hereto and incorporated herein; and ' WHEREAS, the School Corporation, the City of South Bend, Indiana Board of Public Works (the "Board of Works"), and the South Bend Redevelopment Commission ("Commission") are parties to a certain Amended and Restated Agreement ("Amended Agreement") having an effective date of November 19, 2004 and a certain First Addendum to the Amended and Restated Agreement (the Amended Agreement and First Addendum collectively referred to hereafter as the "Agreements") having an effective date of June 26, 2006; and WHEREAS, the Agreements include certain terms and conditions related to the disposition of the Education Center; and WHEREAS, one of the terms and conditions is that the Historic Landmarks Foundation of Indiana ("HLFI") shall be afforded the reasonable opportunity to identify an economically viable plan for the redevelopment of the Education Center by HLFI or a third party; and WHEREAS, the First Addendum defines "economically viable" to mean that a ready, willing and able purchaser has been identified; a written agreement has been fully executed with the prospective purchaser and there is a sufficient financial commitment to permit both the purchase and redevelopment plan for the Education Center to commence on or before July 1, 2007; and ' WHEREAS,'the Education Center is a local landmark and if an economically viable reuse is not identified shortly, the Education Center is in danger of being abandoned or demolished unless an economically viable reuse is identified; and WHEREAS, HLFI has entered into an agreement with a developer providing for the redevelopment of the Education Center; and WHEREAS, the Commission has determined that the proposed development of the Education Center meets the definition of economically viable set forth in the First Addendum; and WHEREAS, in accordance with the Agreements, the Board of Works desires to transfer its interest in the Education Center to HLFI to provide for the reuse and preservation of the Education, which is in the best interest of the City of South Bend, Indiana (the "City"); WHEREAS, a Development Agreement has been presented to the Board of Works at this meeting providing for the transfer to occur subject to certain terms and conditions and providing for the redevelopment of the Education Center; NOW, THEREFORE, BE IT RESOLVED, by the City of South Bend, Indiana Board of Public Works, as follows: ' Section 1. The Board of Works hereby finds that the preservation and reuse of the Education Center is in the best interest of the City and that the transfer of the Education Center, in accordance with the Agreements, will provide the best opportunity to preserve and reuse the Education Center. Section 2. The Board of Works hereby approves the Development Agreement, as presented, and authorizes the President or any of the members of the Board to execute and attest the Development Agreement and any documents contained therein or contemplated thereby, including but not limited to the Agency Agreement set forth therein.