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RESOLUTION NO. 423 <br />r <br />ri <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION, <br />REAFFIRMING RESOLUTION NO. 407, ACCEPTING AND APPROVING <br />CITY DEVELOPMENT COMPANY, AN INDIANA PARTNERSHIP, AS A <br />REDEVELOPER, AUTHORIZING THE PREPARATION AND EXECUTION <br />OF THE CONTRACT DISPOSITION AND REDEVELOPMENT AND THE <br />EXECUTION OF QUIT CLAIM DEED(S) FOR TRANSFER OF TITLE, <br />AND APPROVING THE CONSTRUCTION PLANS AND THE EQUITY <br />CAPITAL AND MORTGAGE FINANCING, ALL PERTAINING TO DIS- <br />POSITION PARCEL 8 -3 IN THE CENTRAL DOWNTOWN PROJECT, <br />INDIANA R -66. <br />WHEREAS, the City of South Bend Department of Redevelopment <br />is carrying out the urban renewal for an area known as the South <br />Bend Central Downtown Project, Indiana R -66, pursuant to the Urban <br />Renewal Plan adopted by the Common Council of the City of South Bend, <br />Indiana, by Resolution No 193 -68 on September 10, 1968; and <br />WHEREAS, said Urban Renewal Plan calls for the sale for redevelop- <br />ment by public or private agencies, persons, or associations, of acquired <br />land in accordance with the provision of said Plan; and <br />WHEREAS, the First Bank and Trust Company of South Bend, Indiana, <br />as Trustee for Land Trust No. 29 -5094, has submitted a proposal to re- <br />develop Disposition Parcel 8 -3 within the South Bend Central Downtown <br />Project, Indiana R -66, and said proposal has been processed in accor- <br />dance with all applicable statutes of the State of Indiana and of the <br />United States and with applicable rules and regulations governing the <br />sale of land acquired by the South Bend Redevelopment Commission. <br />WHEREAS, said proposal submitted by the First Bank and Trust Com- <br />pany of South Bend, Indiana, as Trustee for Land Trust No. 29 -5094 <br />has been determined by the South Bend Redevelopment Commission in Re- <br />solution No. 407, adopted on June 16, 1972, as satisfactory and as not <br />less than the offering price of said Redevelopment Commission for uses <br />in accordance with the Urban Renewal Plan, and said bid proposal has <br />been determined by the Redevelopment Commission in said Resolution No. <br />407 to be the highest and best bid; and <br />