No. 1458 approving the transfer of real property to the COSB (Ivy Tech State College)

Home Browse Search

Resolution No. A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING THE TRANSFER OF REAL PROPERTY TO THE CITY OF SOUTH BEND, INDIANA WHEREAS, the City of South Bend, Indiana, Department of Redevelopment (Redevelopment) is the owner of the following described real property situated in St. Joseph County, Indiana: See attached Exhibit "A" (hereinafter referred to as the Real Property),and; WHEREAS, pursuant to I.C. 36- 7 -14 -3, the South Bend Redevelopment Commission (Commission) is the governing body of the City of South Bend, Department of Redevelopment and, pursuant to I.C. 36 -7 -14 -12.2 may dispose of the Real Property; and WHEREAS, Redevelopment, through the Commission, is desirous of transferring the Real Property to Ivy Tech State College for the sum of Five Hundred Seventy -five Thousand Dollars ($575,000.00), with the understanding that Ivy Tech State College will construct a post- secondary public educational institution on the Real Property; and WHEREAS, pursuant to I.C. 36- 1 -11 -8, Redevelopment, acting through the Commission and the City, acting by and through the Board, may exchange or transfer property with one another upon terms and conditions agreed upon by the two (2) entities as evidenced by the adoption of substantially identical resolutions of each entity. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1. That the transfer of the Real Property situated in St. Joseph County, Indiana, and generally described as follows: See attached Exhibit "A" for the sum of Five Hundred Seventy -five Thousand Dollars ($575,000), by the City of South Bend, Indiana, Department of Redevelopment to Ivy Tech State College, for use in the development of a post- secondary public educational institution, shall be, and hereby is, approved. 2. That the President and Secretary of the South Bend Redevelopment Commission shall be, and hereby are, authorized, respectively, to execute and attest to the execution of a quitclaim deed conveying all of the right, title and interest in the Real Property to Ivy Tech State College.