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RESOLUTION NO. 996 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />APPROVING THE FAIR LEASE PURCHASE VALUE <br />FOR THE RE -USE OF LAND IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA <br />WHEREAS, the property listed on the attached Exhibit "A" <br />has been appraised by two qualified, independent, professional real <br />estate appraisers and a written and signed copy of the appraisal is <br />contained in the Commission files; and <br />WHEREAS, each such appraisal has been reviewed by <br />qualified Redevelopment staff and no corrections, revisions, or <br />additions were requested by such review; and <br />WHEREAS, the reviewer has reported that the appraisals are <br />complete and consistent in the factual data contained therein, <br />comply with existing statutory and regulatory requirements, and are <br />acceptable for the determination of fair value; <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend <br />Redevelopment Commission, Governing Body of the City of South Bend <br />Department of Redevelopment, that based upon such appraisals and <br />the review thereof, the Fair Lease Purchase Value over a term of <br />twenty -one (21) years for the re -use of the property indicated on <br />Exhibit "A ", attached hereto and made a part hereof, is established <br />as shown thereon and all documentation related to such <br />determination is contained in the Commission files. <br />Adopted at the Regular Meeting of the South Bend <br />Redevelopment Commission, held on the 10th day of May, 1991, in the <br />Office of the Redevelopment Commission, Room 1200, County -City <br />Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. <br />ATTEST: <br />Michael Donoho, Secretary <br />ml \resolut \res996 <br />14 <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />Paula N. Auburn, President <br />