No. 0677 accepting a counteroffer for sale of real property in the East Bank Development Area (Kawneer Co., Inc., 340 E. Colfax)

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r RESOLUTION NO. 677 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ACCEPTING A COUNTEROFFER FOR SALE OF REAL PROPERTY IN THE EAST BANK DEVELOPMENT AREA WHEREAS, the South Bend Redevelopment Commission has offered to purchase the property described in Attachment A from the fee title owner of record, Kawneer Company, Inc., for $257,500.00; and WHEREAS, the Redevelopment Department has received on February 10, 1983 a letter rejecting said offer but containing a counteroffer to sell that property for a purchase price of $293,100.00; and WHEREAS, the purchase and resale for redevelopment purposes of the real property described in Attachment A is central to the carrying out of the activities described in the redevelopment plan for the East Bank Development Area; and WHEREAS, the Redevelopment Commission believes that acceptance of this counteroffer will result in a timely settlement of this matter, thereby saving the City of South Bend from incurring other costs as- sociated with the East Race project; and WHEREAS, the Redevelopment Commission finds that such acceptance of the purchase offer would be in the best interest of the City of South Bend and would conform to the redevelopment plan already adopted by the Commission. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission that the counteroffer of a purchase price of $293,100.00 made by Kawneer Ccmpany, Inc., for sale to the Redevelopment Commission for the real property described in Attachment A be accepted and the President and Secretary of the Commission are authorized to execute all necessary documents. Adopted at the Regular Meeting of the South Bend Redevelopment Commission held on February 11, 1983 in the office of the Commission, 1200 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION i low-