No. 0370 authorizing the execution of Redevelopment Agreement(s) for disposition of land and execution of warranty deed(s) for transfer of title thereto in connection with LaSalle Park Project, IND R-57 (Valley Real Estate, Inc.)

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RESOLUTION NO. 370 ZESOLUTION AUTHORIZING ACCEPTANCE OF BIDS FOR LAND AND AUTHOR - [ZING THE EXECUTION OF REDEVELOPMENT AGREEMENT (S) FOR DISPOSITION )F LAND AND EXECUTION OF WARRANTY DEED (S) FOR THE TRANSFER OF CITLE THERETO IN CONNECTION WITH LAND TO BE DISPOSED OF IN THE _ASALLE PARK PROJECT, IND. R -57 WHEREAS, the Valley Real Estate, Inc. has submitted a written offer meeting the approved minimum price on Disposition Parcel commonly referred to as 13 -19 and N 1/2 of 13 -18 and has submitted a written offer meeting the approved minimum price on Disposition Parcel commonly referred to as 13 -19 and N 1/2 13 -18 in the LaSalle Pak Project, Ind. R'57; and WHERE S, the South Bend Redevelopment Commission has determined that the acceptance of these bids are in accordance with the approved disposal program for this area; and WHERE S, the Commission has determined that the redevelopers possess the qualifications and financial resources necessary to acquire and develop the land in accorda ce with the Urban Renewal Plan; and WHEREAS, the offer of $562.00 by the Valley Real Estate, Inc. is satisfactory and not less than the offering prices of the Commission for uses in accordance with the Urban Renewal Plan, which offering prices were submitted to and approved by the Department of Housing and Urban Development; and WHERE S, the Urban Renewal Plan for the area known as LaSalle Park Project, Ind. R -57, calls for the sale for redevelopment by public or private agencies of all acquir d land in accordance with the provisions of said plan; and . WHERE/ certain par processed 1 rules and i land, which S, the following redevelopers have submitted proposals to redevelop cels within the LaSalle Park Project and that said proposals have been n accordance with all applicable Statutes of the State of Indiana and egulations of the Federal Statutes governing the sale of Urban Renewal parcels are described as follows: PARCEL NUMBER 13 -19 & N 1/2 13 -18 NOW, IHEREFORE, BE IT RESOLVED that accepts th offer of Valley Real Estate, and redeve op the designated Disposition NAME Valley Real Estate, Inc. the South Bend Redevelopment Commission Inc. to acquire at a price of $562.00 Parcel 13 -19 and N 1/2 of 13 -18. NOW, THEREFORE, BE IT FURTHER RESOLVED by the South Bend Redevelopment Commission, Governing Body of the City of South Bend Department of Redevelopment, that the Executive Director of the Department of Redevelopment is authorized to prepare Rede- velopment greement(s) and Warranty Deed(s) for the purpose of conveying said real estate to he proposed redevelopers above described. BE IT FURTHER RESOLVED that the President of the South Bend Redevelopment Commission is authorized to execute said Redevelopment Agreement(s) and Warranty Deed(s) and that the Assistant Secretary of the Commission is hereby authorized to attest said Agreement and Deed(s).