No. 0144 authorizing sale of land for development to the Housing Authority of the COSB, IN, a municipal corporation for land in the Chapin Street Project, IND R-29

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RESOLUTION NO. 144 Rnsc)LU'iION AUTHORIZING EXECUTION OF A CONTRACT FOR THE SALE OF LAND FOR REDEVELOPMENT Tb THE HOUSING. AUTHORITY OF THE CITY OF SOUTH BEND, INDIANA, A MUNICTOAL CORPORATION* FOR LAND IN THE CHAPIN STREET PROJECT, INDIANA R -29 WHEREAS The Housing Authority of the Catty` of South Bend, i municipal corpora ion, has submitted a written offei identified as a document entitle "Contract for Sale of Land for Redevelopment by A Public Body" and ref rred to as the {'Redevelopment Ag �eementf' i said Redevelopment Agreee4+ ment be satisfactory and acceptable as to f6i4n and eoptent by the 8edevel t Commission and meetinj tha appro4bd minimum price on Dispos Parcel, commonly referred to ae Ndj Chapin street Project, Indiana R-.29; and, W11=r,AS the South Bend Redevelopment Commission has diter In d that the acceptwme of this bid is in accordance with the approved dis :64a1 protrani for this area; and, WHEREAS the Commission has entered into a cooperation agreement with the Housing Authority of the City of South Bend, under the date of February 20 1963, f the purchase and redevelopment of said land, and the Commiesson has det rmined that the redeveloper possesses the qualifications and financial resoure s necessary to acquire and develop said land in accordance with the Urban Renewal Plan as evidenced by an annual contributions contract in effect; and. VTHEREAS the Commission has determined that, in accordance with the Urban Renewal Plan as recorded, the land to be sold is for a public purpose and public itse, and, therfore, considers the disposal of said land by negotiation to the edeveloping public body to be the appropriate method of land e-isposi ion; and, WHEREAS the minimum price to be offered for said land has been determined in accordance with all applicable Statutes of the State of Indiana, and the rules, regulations, and Federal Statutes governing the sale of urban renewal land to a Public Body for public use, in particular, Section 107 of Title I and, WHEREAS the offer of $819667 by the Housing Authority of the City of South Lend is satisfactory and is not less than the fair market value for use in accordance with the Urban Renewal Plan as determined by the applicable eta* tutes, rules, and regulations cited above. NOW, T opment Of Sout Disposi estate That pa in Plat 8 ^k. Ou Lots 68 in Firs Plat Bo .,_et fry thence and 37.+ feet to EFORE, THE SOUTH BHND REDEVELOPMENT COMISSI(X maids the Redevel- ,reement with the Housing Authority of the City of South Bend is cry as to form and price and hereby accepts the offer of and ,s execution of a contract with the Housing Authority of the City Bend to acquire at a price of $81,667 to redevelop the designated on Parcel No. 1 for residential housing units; subject to the ce fo the Department of Housing and Urban Development. Said real known and described as follows: t of Edward Sarin's Subdivision of Bank Out Lot Number 70 as shown Book 1, page 9, and all of Reuben Dun's Subdivision of a part of Lot Number 69 as shown in Plat Book 2, page 65, and part of and 69 lying North of the New York Central Railroad's right -of -way Plat of Out Lots of the Town, now City of South Bend, as shown in k 1, page 44, all more particularly descr - 2d as follows: mg at a point which bears due South 59.9S feet and due West 37.00 xn the centerline intersection of 6%...tern Avenue and Seo tt.Street; ml.ong an assumed bearing of South, on a line which is parallel to )0 feet due West of the centerline of Scott Street a distance of 905.22 the North line of the New York Central Railroad's right -of -way; thence