Laserfiche WebLink
o��r��� , �To. ��a y-�� <br /> �N ORDINANCF C��? THIC COi�Z�I01�T COUNCIL <br /> OF THE CI�"Y OF SOUT�-I BEl!'D, YNDIANA, APp1tOVING <br /> AN AlYIET�IDED AND RESTAT �'D LEASE FOR CE1tTAIN LAN� �Ia1D <br /> PT�JBLT� IMP1aO�TEMENTS B�T�W'�EN T�-IE SOUTH BEND RFDEV�l��+��a��;"��` <br /> AUTfI�JRIT�' AND THE SQTiTTI� BEND REDEV��e�]���.:��°i q:�4i��l��:�����:�1 <br /> STATEMENT OF PU�.POSE AND INTENT: <br /> 'i'he �outh i3end Redevel��pment Commission(the "Commission") at a nnPeting �n <br /> M:y 2, 19�7, adopted Resolution No. 1�06 (th� "Res��lution"), which approved a }�roposed <br /> a�menc?.ed and�cstated lease between the South Bend Redevelopment Authority (the "Autho�ity") <br /> and t��e Comniission to be dated as of Pviay 1, 1997, for certain land and public improve.ments. <br /> Ttje !-�uthority, at a meeting on May�, 1997, approved the proposed amended and restat�d lease. <br /> Ttie prupc�^.eu amended and restated lease (i) amends and restates the lease �.ated as of I�riarch l, <br /> �992, betvr:;;:.r. the �:ommission and the Author'ity as amended by an addendum to Izas� �«te� as <br /> of ��aaust 7, ].9�2, between the Authority and the Cammissian (collectively, the "Originai <br /> Leas��'), wh°reby the �,uthority leases to the Comrnissian tlie real estate and a buiidin� loca�ee <br /> thereon knawn as the Palais Royale (i�.� "Palais koyale") located�in the City �f 5n�.�t�� Ber�a, <br /> Inuian�(th� "C�ty") (the "Original ProjPat"); and (�ij provides that the Authority ti��ill lea:;;,to the <br /> Cc�nunisszQn certain additional real estate and t�ie building located thereon known as tht ��iri;� <br /> Civic Cent°r and the improvements to b� made thereto by the Authority and the improv�mer.ts <br /> to be made to certlin portions of the Paluis Rovale by the Au�hority (the "Additional Prc�ierlt"i. <br /> By the adnption of the Resolution, the �ommission scheduled a publi�hearing on said aine�i�eci <br /> and rrstat�d lease to be held on June 6, 19�7, pur:,uant to IC �6-7-14-?5.2, and authcri�zec. tYie <br /> public�tion of'a n�tice of public hea*in�on said amended and restat�d lease pursuant to I�` 5-;-i. <br /> Or� Ji:ne 6, 1997, said public hearing was heta :j.nd ali interested parties were �ro�.�d��d tiz� <br /> ap�ortur.�ty to be heard at the kearing. <br /> Th� Commissian, at its meeting o� Jtine 6, 1997, adopted Res�lutian �Na. 1 S07 <br /> _�'indi:��, �ursuant tu IC 36-7-14.5-14, ihat tne renta? p;yments to be paid by the Conu�.iissior.tu� <br /> Lhe Aut3iority far�h� Additional Project�ursuant�o ti:e aniended and restated lease, at a ra�e not <br /> tr� excer�. C�ne Milli�n'Three Izundred�inety TI-ious�.�d and 00/100 Dollazs ($1,390,0�3Q.U0) per <br /> year vay��bie ir� semiannual installments heginr.ing �rs the day the Project is complet�d and re�c�; <br /> for ase; tir 3uly �8, 1999, w:uchever is lzter, through expiratian of the amended an1 r�s�ater� <br /> l;:as�, are fair �nd re�onanle, and finding, pu;su�ifi tr� tC 36-?-14-25.2, that t��e �ase at th� <br /> � Addi�ien�.l Projecx throughout the term af the amended ar.d restated lease will serve tl-ie p�tbli� <br />_ pur�7�se cif th� City and is in the best interests ot its resid��nts. Said Resolution No. 1507 f�:rthei• <br /> rat�rzed and a�pr�ved action tal:en bv die Szcretary of the Commission to file with the Cc?n�mor� <br /> Council �f th� City (the "Common.Coun�il") �an approving ordinance for the purpUSes c;f said <br /> (:at���i!'s f nding, prior ta the Commissian's exec�ation of the amended and restated lease, ±Yra± <br /> t�if� rental payments provided for ttie A.d:liti�nal Pmj�ct are fair and reasonable and that ?he use <br />