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r <br />RESOLUTION NO. 657 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />ACCEPTING A COUNTEROFFER FOR SALE OF REAL PROPERTY IN THE <br />RUM VILLAGE INDUSTRIAL PARK AND AUTHORIZING A CONTRACT OF SALE. <br />WHEREAS, the South Bend Redevelopment Commission has <br />offered to purchase the property described in Attachment A from the <br />fee title owner of record, Homer W. Fitterling, for $175,500.00; and <br />WHEREAS, the Redevelopment Department has received on March <br />11, 1982, a letter rejecting said offer but containing a counteroffer <br />to sell that property for a purchase price of $466,960.00, subject to <br />an existing option to purchase granted to New Energy Corporation and <br />subject to execution of mutually acceptable contract of sale; and <br />WHEREAS, the purchase and resale for redevelopment purposes <br />of the real property described in Attachment A is central to the <br />carrying out of the activities described in the redevelopment plan <br />for the Rum Village Industrial Park; and <br />WHEREAS, the Redevelopment Commission has reasonable <br />assurances of its ability to resell that property for redevelopment <br />purposes at a price equal to or greater than the amount listed in the <br />counteroffer; and <br />WHEREAS, the Redevelopment Commission finds that such <br />purchase and resale would be in the best interest of the City of <br />South Bend and would conform to the redevelopment plan already <br />adopted by the Commission; <br />THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission that the counteroffer of a purchase price of $466,960.00 <br />made by Homer W. Fitterling for sale to the Redevelopment Commission <br />for the real property described in Attachment A be accepted subject <br />to an existing option to purchase granted to New Energy Corporation <br />and subject to execution of mutually acceptable contract of sale; and <br />that the contract of sale be executed by the President and Secretary <br />of the Redevelopment Commission upon the development of mutually <br />acceptable terms, among which shall include the ability of the <br />Redevelopment Commission to reconvey to Homer W. Fitterling the real <br />property described in Attachment A in the event that the Commission <br />is unable to sell the property for redevelopment purposes on or <br />before October 31, 1982. <br />CITY OF SOUTH BEND <br />DEPARTMENT OF REDEVELOPMENT <br />ATTEST: <br />E D ALD ON, SECRETARY <br />