No. 2066 approving the execution of an agreement for disposition of real estate and other related documents concerning the transfer of property located in the AEDA

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C TIO RESOLUTION NO. 2066 A RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA REDEVELOPMENT COMMISSION APPROVING THE EXECUTION OF AN AGREEMENT FOR DISPOSITION OF REAL ESTATE AND OTHER RELATED DOCUMENTS CONCERNING THE TRANSFER OF PROPERTY LOCATED IN THE AIRPORT ECONOMIC DEVELOPMENT AREA WHEREAS, pursuant to the powers granted under Ind. Code § 36- 7 -14 -1, et seq., the South Bend Redevelopment Commission ( "Commission ") has previously declared an area within the City of South Bend to be an economic development area commonly known as the "Airport Economic Development Area "; and WHEREAS, the Commission is the owner of certain real property ( "Property ") which is located within Airport Economic Development Area, said Property being more particularly described at Exhibit "A" attached hereto and incorporated herein WHEREAS, Moreau Court Investments, LLC, through Harbor Investments II, LLC ( "Developer ") is the owner of the real property and improvements (`Building ") located adjacent to the Property; and WHEREAS, the Building was previously owned by a not - for - profit entity, and as such, was not generating taxes for the City of South Bend; and WHEREAS, FiServ, Inc., through its subsidiary Data -Link Systems, LLC (FiServ) is a for - profit entity that had determined to relocate its operations outside of the City of South Bend resulting in the loss of approximately 195 jobs from the community; and WHEREAS, FiSery now desires to remain within the City of South Bend and further desires to lease a portion of the Building from the Developer for its business operations under certain terms and conditions including, but not limited to, the availability of sufficient parking area to accommodate FiSery FiServ's use and occupancy of the Building by its employees and business invitees; and WHEREAS, relocating FiSery to the Building will result in the retention of approximately 195 jobs within the City of South bend and it is further anticipated that the Building will generate approximately Two Hundred Fifteen Thousand and 00 /100 Dollars ($215,000.00) in annual tax revenue for the City; and WHEREAS, as part of the FiSery retention effort, Developer has requested that the Commission transfer the Property to Developer for nominal consideration of Developer providing parking on Property for use by FiSery in order to retain the business within the City of South Bend; and WHEREAS, after careful consideration, the Commission has determined that it is reasonable to transfer the Property to Developer as proposed because the City will otherwise benefit by the retention of FiSery jobs and returning the Building to the City's tax roll, that the conditions proposed by Developer are reasonable and that disposition of the Property to Developer for use as a parking area for the Building is necessary to and consistent with the Airport Economic Development Area Development Plan; and WHEREAS, the Commission desires to enter into an Agreement for Disposition of Real Property and other related documents concerning the transfer of this Property to the Developer consistent with Developer's proposal and this Resolution; and WHEREAS, the Commission m eets in re gul ar sessions on a semi-monthly basis and com p letion of the paperwork related to this real estate transaction may require immediate action from the Commission, including the