No. 2085 approving the granting of certain easements to Indiana & Michigan Power Co. related to infrastructure improvements in the AEDA

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14 RESOLUTION NO. 2085 A RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA REDEVELOPMENT COMMISSION APPROVING THE GRANTING OF CERTAIN EASEMENTS TO INDIANA & MICHIGAN POWER COMPANY RELATED TO INFRASTRUCTURE IMPROVEMENTS 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 properties ( "Property ") which are located within Airport Economic Development Area, said Property being more particularly described at Exhibit `A " attached hereto and incorporated herein WHEREAS, Indiana & Michigan Power Company ( "I & M ") is constructing and installing certain utilities within the Airport Economic Development Area; and WHEREAS, I & M requires certain easements across and under the Property in order to complete the infrastructure improvements for the Airport Economic Development Area and the Commission desires to grant said easements; and WHEREAS, the Commission believes that it is in the best interests of the public that the easement interests Property transfer be completed and that all necessary approvals are taken in a timely manner. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION, AS FOLLOWS: 1. The Commission hereby finds that the granting of said easements is reasonable and necessary to the economic development of the Airport Economic Development Area and that such use is consistent with the Airport Economic Development Area Development Plan. 2. The Commission hereby approves the form of Distribution Easement presented to the Commission at this meeting and authorizes the President of the Commission to execute and the Vice President or Secretary to attest said agreement in the form presented at this meeting with such changes as may be suggested by legal counsel and approved by the President and Vice President or Secretary with such approval evidenced by the execution and attestation respectively, thereof. 3. The Commission hereby authorizes the either (i) the President of the Commission to execute and the Vice President or Secretary to attest or (ii) the Commission's legal counsel to execute on its behalf any and all other documents necessary to effectuate the closing of the real estate transaction upon the advice of legal counsel. 4. This Resolution shall be in full force and effect from and after its passage by the Commission.