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RESOLUTION NO. 54 <br />• RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY <br />APPROVING EXECUTION OF A LEASE <br />BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY <br />AND THE SOUTH BEND REDEVELOPMENT COMMISSION <br />FOR CERTAIN LAND AND A BUILDING LOCATED THEREON <br />WHEREAS, the South Bend Redevelopment Authority (the <br />"Authority") at a meeting on March 26, 1992, adopted Resolution <br />No. 49 which, among other things, approved a proposed Lease between <br />the Authority and the South Bend Redevelopment Commission (the <br />"Commission") for certain land and a building located thereon more <br />commonly known as the Palais Royale (the "Project") to be dated as <br />of March 1, 1992 (the "Lease"), and directed the Secretary of the <br />Authority to file a copy of said Lease, as approved, with the <br />Commission; and <br />WHEREAS, the Commission at a meeting on May 1, 1992, <br />subsequent to a public hearing on the Lease at which all interested <br />parties were provided the opportunity to be heard, adopted <br />Resolution No. 1053 finding that the rental payments to be paid by <br />the Commission pursuant to the Lease are fair and reasonable and <br />that the use of the Project throughout the term of the Lease will <br />serve the public purpose of the City of South Bend and is in the <br />best interests of its residents; and <br />WHEREAS, the Commission in said Resolution No. 1053 <br />directed the Secretary of the Commission to file with the Common <br />Council of the City of South Bend (the "Common Council") an <br />approving ordinance; and <br />i~ <br />