05-20-05 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Regular Meeting — May 20, 2005 6. NEW BUSINESS D. Sample -Ewing Development Area (1) continued... one of those properties. There is currently a law suit pending against the City in which J. R.'s Kitty Kat Lounge, Inc. is one of the plaintiffs. There was a Purchase Agreement negotiated with Kitty Kat Lounge, Inc. in order to settle the lawsuit with Kitty Kat Lounge, Ine.. The funds being used to purchase the property were allocated through COIT and it was initially planned as a City acquisition. However, due to the fact that the property is located within a redevelopment area, it was decided title to the property be vested in the Redevelopment Commission. The Agency Agreement between the Board IL of Public Works and the Redevelopment Commission contemplates that the Commission will act as the City's agent to close the real estate transaction and complete the acquisition process. Upon a motion by Mr. Hunt, seconded by Mr. Downes and unanimously carried, the Commission approved Resolution No. 2168 approving and authorizing the execution of an Agency Agreement by and between the South Bend Redevelopment Commission and the City of South Bend, Indiana, Board of Public Works relating to the real property and improvements located at 1315, 1303, and 1321 -1323 South Michigan Street. (Sample - Ewing Development Area) (2) Commission approval requested for Resolution No. 2169 approving the execution of an Agreement for Purchase and Sale of Real Estate related to real 16 COMMISSION APPROVED RESOLUTION NO. 2168 APPROVING AND AUTHORIZING THE EXECUTION OF AN AGENCY AGREEMENT BY AND BETWEEN THE SOUTH BEND REDEVELOPMENT COMMISSION AND THE CITY OF SOUTH BEND, INDIANA, BOARD OF PUBLIC WORKS RELATING TO THE REAL PROPERTY AND IMPROVEMENTS LOCATED AT 1315, 1303, AND 1321 -1323 SOUTH MICHIGAN STREET. SAMPLE -EWING DEVELOPMENT AREA)