No. 0063 authorizing acceptance of bid nor land in the Sample Street Redevelopment Area

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RESOLUTION NO. 63 RESOLUTION AUTHORIZING ACCEPTANCE OF BID FOR LAND IN THE SAMPLE STREET REDEVELOPMENT AREA WHEREAS, Joseph Horvath and John Horvath, doing business as a general partnership under the firm name and style of "Aerospace Company" of South Bend, Indiana, has submitted a written offer meeting the approved mir'-num p ice on Disposal Parcel commonly referred to as No. 1(c -1), Sample St eet Redevelopment Project Indiana R -7; and WHEREAS, he South Bend Redevelopment Commission has determined that the accep ance of this bid is in accordance with the approved disposal program f r this area; and WHEREAS, the South Bend Redevelopment Commission has determined that the Aerospace Company possesses the qualifications and financial resources to acquire and develop the land in accordance with the Urban Renewal Plan; and WHEREAS, the land to be sold has previously been offered for sale by soliciting sealed bids; and more than 90 days have elapsed since said bid opening with no bids having been received for said property, the Commission therefore considers disposal of said land by negotiation to be the appropriate method of land disposition; and WHEREAS, the offer of 23.70 per square foot by Aerospace Company is satisfactory and is not less than the fair market value for uses in accordance with the Urban Renewal Plan, NOW, THE FORE, the South Bend Redevelopment Commission accepts the offer of he Aerospace Company to acquire at a price of 23.7 per square foot and redevelop the designated Disposition Parcel 1(c -1) which is known and described as follows: Street locate West o Cross sidewa of One East s inas of Sco -cted S rent, turnin Minute course Sevent; to and by the East s Feet ( Ang at an existing Cross in the East sidewalk of Scott at the intersection of Western Avenue, said Cross being i on the South Line of Western Avenue and Five Feet (5.001) the East Line of Scott Street; thence Southerly from said i distance of Nine Hundred Thirty -eight and Forty -nine iths Feet (938.491) to another existing Cross in the East Lk of Scott Street; thence continuing Southerly a distance Hundred Feet (100.00') to another existing Cross in the Ldewalk of Scott Street (all these three (3) Crosses being :raight Line and Five Feet (5.001) West of the East Line :t Street); thence continuing Southerly along a line pro - through the above said three (3) Crosses a distance of r -one and Seventy -one Hundredths Feet (71.711); thence j a deflection angle of Eighty -nine Degrees, Fifty -seven Thirty Seconds (890 57' 30 ") right from the last described extended and running Westerly along this Line a distance of 7-five Feet (75.001); thence Southerly on a Line parallel Seventy -five Feet (75.001) West of the Line established three (3) previously described existing Crosses in the Ldewalk of Scott Street a distance d Four Hundred Seventy - P0.001) to the point of beginning; thence continuing -1-