No. 1533 relating to the acquisition of real property in the AEDA (Dale C., Doris J., Roger W. Park, Janet P. Lewis)

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RESOLUTION NO. 1533 A RESOLUTION RELATING TO THE ACQUISITION OF REAL PROPERTY IN THE AIRPORT ECONOMIC DEVELOPMENT AREA WHEREAS, it is deemed necessary and desirable by the South Bend Redevelopment Commission [ "Commission "], in furtherance of the Airport Economic Development Area Development Plan, to acquire unencumbered fee title to the real property identified at Attachment "A," hereto [ "Parcel "], which Parcel is located in the Airport Economic Development Area in the City of South Bend, Indiana. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: The Director is authorized, at her discrestion, to cause a notice and written offer to be made to the owners) of the Parcel, to purchase the Parcel, or a portion thereof, under the following conditions: I . The offering price shall be Thirteen - Thousand Eight- Hundred Dollars ($13,800) per acre of land, which amount does not exceed the average of two (2) appraisals of the Parcel to procured by the Commission. 2. The first payment shall be made at closing, no later than August 31, 1997 and will be in the amount not to exceed Two - Hundred Thousand Dollars ($ 200,000). The remainder of the offering price will be paid in equal, annual installments on each of the following dates: August 15, 1998, August 15, 1999, August 15, 2000, August 15, 2001 and August 15, 2002, subject to annual appropriation by the Commission. 3. The offer shall be made subject to the results of a Phase I Environmental Assessment of the Parcel performed and paid for the Commission, which results must meet with the Commission's approval. 4. The offer shall also extend to the owner(s) an invitation to discuss with the Commission its desire to acquire the Parcel. Adopted at the Regular Meeting of the South Bend Redevelopment Commission held on July 18, 1997, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. AWN CITY OF SOUTH BEND DEPA F REDEYE OPMENT Robert W. Hunt, President South Bend Redevelopment Commission ATTE Paula N. Auburn, Secretary