No. 15-1986 joint resolution of the Board of Directors of the SB Public Transportation Corp. and the SBRC

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Iftw construction of an essential facility related to the project. The JDC may recommend acceptance of an Offer not involving the minimum requirements, if the Offer involves a project which appears conducive to the economic growth of the downtown area. b. When the JDC recommends acceptance of an Offer, Redevelopment will review the Offer to determine whether the Offer meets the Development Plan for the South Bend Central Development Area and whether it meets other criteria required herein to initiate the notice to TRANSPO and the public bidding process for disposition of property by Redevelopment (IC 36- 7- 14 -22). C. If both the JDC and Redevelopment determine the Offer suffices to initiate public bidding of the Development Site for redevelopment, Redevelopment will send written notice to TRANSPO to relocate its transfer center and to reconvey the Property to Redevelopment for recombi- nation with the Air Space and Ground Space and for offering the Development Site for public bidding for resale and redevelopment, pursuant to IC 36- 7- 14 -22. TRANSPO shall have fifteen (15) days from date of the notice given by Redevelopment within which to reconvey the Property. TRANSPO shall have not less than one hundred twenty (120) days from the date of the Notice to vacate the Property and return possession to Redevelopment. d. Repurchase Price for reconveyance of the Property by TRANSPO to Redevelopment shall be an amount equal to the total of: (a) Fifty Three Thousand Six Hundred Dollars ($53,600.00); (b) the depreciated value of any improvements to the Property from UMTA funds which must be repaid to UMTA due to the reconveyance; and (c) the lesser of actual moving costs or Twenty -Five Thousand Dollars ($25,000.00); provided, however, that the total Repurchase Price shall not exceed Two Hundred Twenty -Five Thousand Dollars ($225,000.00). e. The Repurchase Price shall be paid at a time to be agreed upon between TRANSPO and Redevelopment and need not be paid at the time of reconveyance of the Property. Payment of the Repurchase Price shall not be a requirement for reconveyance of the deed to the W- Property to Redevelopment or for repossession of the Property by Redevelopment. f. If Redevelopment sells the Development Site for an amount greater than the Repurchase Price, Redevelopment will pay to TRANSPO a reconveyance bonus of fifty percent (50 %) of the difference between the Repurchase Price and the sale price for the Development Site. This reconveyance bonus shall be in lieu of the sharing of the sale price of the Air Space provided for in the previous Article VII, Section 2 of the Agreement. g. If TRANSPO reconveys the Property to Redevelopment under this Agreement, Redevelopment agrees to lease to TRANSPO for a nominal sum on a year to year basis property then owned by Redevelopment, if any then is available, in the sole opinion of Redevelopment, for such lease, for use by TRANSPO as a temporary transfer center; provided, however, that any such lease may 140� -4-