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RESOLUTION NO. 3655 <br /> <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />ESTABLISHING THE OFFERING PRICE, APPROVING BID SPECIFICATIONS, AND <br />APPROVING NOTICE OF INTENDED DISPOSITION OF PROPERTY IN THE RIVER <br />WEST DEVELOPMENT AREA <br /> <br /> WHEREAS, the South Bend Redevelopment Commission (the “Commission”), <br />the governing body of the City of South Bend, Indiana, Department of Redevelopment, <br />exists and operates pursuant to I.C. 36-7-14 (the “Act”); and <br /> <br /> WHEREAS, the Commission may dispose of real property in accordance with <br />Section 22 of the Act; and <br /> <br /> WHEREAS, the real property identified at Exhibit A attached hereto and <br />incorporated herein (the "Property") has been appraised by two qualified, independent, <br />professional real estate appraisers, and a written and signed copy of their appraisals is <br />contained in the Commission’s files; and <br /> <br /> WHEREAS, each such appraisal has been reviewed by a qualified staff member <br />of the Department of Community Investment, and no corrections, revisions, or additions <br />were requested by such reviewer; and <br /> <br /> WHEREAS, bid specifications and design considerations pertaining to the <br />disposition of the Property have been prepared in accordance with the Act, in the form <br />attached hereto as Exhibit B; and <br /> <br /> WHEREAS, a Notice of Disposition of Property has also been prepared in <br />accordance with the Act, in the form attached hereto as Exhibit C; and <br /> <br /> WHEREAS, the Commission now desires to approve of each of these documents <br />to initiate the disposition process of the Property. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission, as follows: <br /> <br />1. Based upon the appraisals, the offering price of the Property described at Exhibit <br />A is hereby established as stated therein, which amount is not less than the <br />average of the two appraisals, and all documentation related to such <br />determination is contained in the Commission’s files. <br /> <br />2. The bid specifications and design considerations prepared for the Property as set <br />forth in Exhibit B are hereby approved. <br /> <br />3. The Notice of Disposition of Property, in the form set forth in Exhibit C, is hereby <br />approved, and shall be published in accordance with Ind. Code § 5-3-1. <br />