Resolution No. 3653 534 Laporte Ave. Disposition (Bid Specs, Notice ) - Signed

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RESOLUTION NO. 3653 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ESTABLISHING THE OFFERING PRICE, APPROVING BID SPECIFICATIONS, AND APPROVING NOTICE OF INTENDED DISPOSITION OF PROPERTY IN THE RIVER WEST DEVELOPMENT AREA WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the governing body of the City of South Bend, Indiana, Department of Redevelopment, exists and operates pursuant to I.C. 36-7-14 (the “Act”); and WHEREAS, the Commission may dispose of real property in accordance with Section 22 of the Act; and WHEREAS, the real property identified at Exhibit A attached hereto and incorporated herein (the "Property") has been appraised by two qualified, independent, professional real estate appraisers, and a written and signed copy of their appraisals is contained in the Commission’s files; and WHEREAS, each such appraisal has been reviewed by a qualified staff member of the Department of Community Investment, and no corrections, revisions, or additions were requested by such reviewer; and WHEREAS, bid specifications and design considerations pertaining to the disposition of the Property have been prepared in accordance with the Act, in the form attached hereto as Exhibit B; and WHEREAS, a Notice of Disposition of Property has also been prepared in accordance with the Act, in the form attached hereto as Exhibit C; and WHEREAS, the Commission now desires to approve of each of these documents to initiate the disposition process of the Property. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, as follows: 1. Based upon the appraisals, the offering price of the Property described at Exhibit A is hereby established as stated therein, which amount is not less than the average of the two appraisals, and all documentation related to such determination is contained in the Commission’s files. 2. The bid specifications and design considerations prepared for the Property as set forth in Exhibit B are hereby approved. 3. The Notice of Disposition of Property, in the form set forth in Exhibit C, is hereby approved, and shall be published in accordance with Ind. Code § 5-3-1.