No. 0717 accepting a counteroffer for sale of real property in the East Bank Development Area and authorizing a contract of sale (Mill Race, Inc.)

Home Browse Search

P. I ; RESOLUTION NO. 717 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ACCEPTING A COUNTEROFFER FOR SALE OF REAL PROPERTY IN THE EAST BANK DEVELOPMENT AREA AND AUTHORIZING A CONTRACT OF SALE WHEREAS, the South Bend Redevelopment Commission has offered to purchase the property described in Attachment A from the fee title owner of record, Mill Race, Inc., for $568,700.00; and WHEREAS, Mill Race, Inc., has rejected the original offer but on September 24, 1984, has offered $592,400.00 as purchase price for that property; 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 finds that such purchase and resale would be in the best interest of the City of South Bend and would conform to the redevelopment plan already adopted by the Commission; THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission that the counteroffer of a purchase price of $592,400.00 made by Mill Race, Inc., for sale to the Redevelopment Commission for the real property described in Attachment A be accepted subject to execution of mutually acceptable contract for sale; and that the contract for sale be executed by the President and Secretary of the Redevelopment Commission together with any other associated documents necessary to carry out the intent of this Resolution. Adopted this 28th day of September, 1984. ATTEST: r A. PETER D NAL S CITY OF SOUTH BEND DEPARTMENT OF REDEVELOPMENT . JAY NIMTZ, PRESIDENT