No. 1884 accepting the transfer of real property from the SBCSC Board of School Trustees

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_,p z RESOLUTION NO. 1884 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ACCEPTING THE TRANSFER OF REAL PROPERTY FROM THE SOUTH BEND COMMUNITY SCHOOL CORPORATION BOARD OF SCHOOL TRUSTEES WHEREAS, the South Bend Community School Corporation, (hereinafter, "SBCSC ") is the owner of approximately 4.6 acres of real property described at Exhibit "A ", attached hereto and incorporated herein, and located withing the City of South Bend, St. Joseph County, Indiana (hereinafter "Property "); and WHEREAS, the care, custody and control of SBCSC real estate is vested in the Board of School Trustees pursuant to I.C. 20- 5 -2 -2; and WHEREAS, SBCSC desires to transfer the Property to the City of South Bend, for the use and benefit of its Department of Redevelopment for use in the redevelopment of the Sample - Ewing Development Area under the following terms and conditions: (i) SBCSC shall transfer the Property to City, for the use and benefit of its Department of Redevelopment, without consideration, provided, however, that City agrees to take use its best efforts to facilitate the disposition of the kwe building now owned and operated by the SBCSC for its administrative offices and the parking lot adjacent thereto ( "Administration Building and Parking Lot ") and to assist in the acquisition of a parcel of real property for new administrative facilities; and (ii) In the event that City does not use its best efforts to perform the actions referenced in Paragraph 3, above, within twenty -four (24) months of City's taking title to the Property, City shall pay to SBCSC the sum of $ 22,500 per acre, ($22,500 x 4.6 acres), the total sum being One Hundred Three Thousand Five Hundred 00 /100 Dollars ($103,500.00); and WHEREAS, pursuant to I.C. 36- 1 -11 -8, the City of South Bend, Department of Redevelopment, acting by and through its governing body, the South Bend Redevelopment IL Commission, is willing to accept the transfer of the Real Property from SBCSC; and WHEREAS, pursuant to I.C. 36- 1 -11 -8, the City, acting through the Commission and the SBCSC acting by and through the Board of School Trustees, may exchange or transfer property with another governmental entity upon terms and conditions agreed upon by the two (2) entities as evidenced by the adoption of substantially identical resolutions of each entity; and WHEREAS, South Bend Community School Corporation Board of Trustees has adopted or will adopt a resolution substantially equivalent to this resolution setting forth the terms and conditions of this transfer of Property between the SBCSC and the Commission.