No. 0662 authorizing the execution of quit-claim deed for the transfer of title to certain land in the East Bank Development Area for park purposes to the board of park commissioners of the park district of the COSB

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RESOLUTION NO. 662 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION, GOVERNING BODY OF THE CITY OF SOUTH BEND DEPARTMENT OF REDEVELOPMENT, AUTHORIZING THE EXECUTION OF QUIT -CLAIM DEED FOR THE TRANSFER OF TITLE TO CERTAIN LAND IN THE EAST BANK DEVELOPMENT AREA FOR PARK PURPOSES TO THE BOARD OF PARK COMMISSIONERS OF THE PARK DISTRICT OF THE CITY OF SOUTH BEND. STATEMENT OF PURPOSE AND INTENT The City of South Bend Department of Redevelopment ( "Redevelopment Department ") is carrying out the urban renewal of an area known as the East Bank Development Area ( "Project ") pursuant to the Urban Renewal Plan ( "Plan ") for said Project adopted by the Redevelopment Department and the City of South Bend. The Plan calls for the sale for redevelop- ment by public or private entities of all land acquired in the Project area in accordance with the provisions of the Plan. The Board of Park Commissioners of the Park District of the City of South Bend ( "Park Board ") has submitted to the Redevelopment Depart- ment a proposal to redevelop certain real estate within the Project located in St. Joseph County and described on Exhibit "A ", attached to and a part of this Resolution. Said proposal has been processed in accordance with all applicable laws of the State of Indiana governing the sale of land by the Redevelopment Department, including without limitation the provisions of Section 12(3) and Section 22 of Indiana Code 36 -7 -14. The Redevelopment Department and the Park Board have agreed that the purchase price for the real estate shall be the total amounts ex- pended by the Redevelopment Department for land acquisition and related costs, including, without limitation costs for appraisers, legal services, interest expenses on borrowed money, and related administrative expenses, not to exceed $600,000.00. Redevelopment Department has spent $546,938.20 for the acquisition and related costs through the date of this Resolution, and will expend additional sums of money for the acquisition and related costs. NOW, THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment Commission, Governing Body of the City of South Bend Department of Re- development, that the Redevelopment Department shall sell the real estate described on Exhibit "A" to the Park Board for the payment of