No. 1013 approving a sublease of real property to the COSB

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RESOLUTION NO. 1013 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING A SUBLEASE OF REAL PROPERTY TO THE CITY OF SOUTH BEND lwb to WHEREAS, the South Bend Redevelopment Commission is lessee of the following described real property owned by the South Bend Redevelopment Authority (the "Authority ") under the Lease - Purchase Agreement dated as of November 1, 1989, and approved and modified on the 16th day of February, 1990, (the "Lease "): Lot Numbered Eight (8) as shown on the recorded Plat of Birdsell's Manufacturing Company's Subdivision of Out Lots Twenty -four (24) and Twenty -five (25) of Denniston & Fellows Addition to the City of South Bend, EXCEPTING THEREFROM a strip Seven (7) feet in width off of the entire South end of said lot. Commonly known as 620 Columbia (the "Real Property "); and WHEREAS, the Commission is desirous of subleasing the Real Property to the City of South Bend, Indiana; and WHEREAS, the City of South Bend is desirous of leasing the Real Property from the Commission; and r WHEREAS, pursuant to I.C. 36- 9 -6 -3, the Board of Public Works of the City of South Bend (the "Board ") has custody of and may maintain all real property of the City of South Bend; and WHEREAS, pursuant to I.C. 36- 1 -11 -8, the City of South Bend, acting by and through the Board, 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, the Commission has agreed to sublease the Real Property to the City of South Bend, and the City of South Bend, acting by and through the Board, has agreed to sublease the Real Property from the Commission under the terms and conditions of a sublease containing terms and conditions which are substantially similar to those embodied in the Lease, with the exception that the rent paid by the City to the Commision pursuant to said sublease shall be nominal in amount. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1. That the sublease of the following described real property by the South Bend Redevelopment Commission to the City of South Bend, acting by and through its Board of Public Works: Lot Numbered Eight (8) as shown on the recorded Plat of Birdsell's Manufacturing Company's Subdivision of Out Lots Twenty -four (24) and Twenty -five (25) of Denniston