Laserfiche WebLink
PURCHASE, AGREEMENT <br />By and Bctwecn <br />South I3end Redevelopment Commission <br />Terrance J. Findley, Jr. <br />September 5, 2008 <br />THIS PURCHASE AGREEMENT (this "Agreement"), dated as of the 5°i day of <br />September, 2008, is made and entered into between the South Bend Redevelopment <br />Commission, for and on behalf of the City of South Bend, Department of Redevelopment (the <br />'`City") and Terrance J. Findley, Jr., as owner (the "Owner"). <br />RECf1,ALS <br />WHEREAS, the City desires to acquire a parcel of real property, including all <br />improvements thereon, currently owned by the Owner, for the redevelopment purposes of the <br />City, which parcel is more particularly described at Exhibit A (the "Property"); and <br />WHEREAS, the Property is within the boundaries of the City, the South Bend <br />Redevelopment District, and the Airport Economic Development Area; and <br />WHEREAS, the City has completed its acquisition procedures for the Property and has <br />appropriated funds for the purchase of the Property; and <br />WHEREAS, the City has presented the Owner an initial offer for the average of the two <br />(2) appraisals obtained by the City for the Property, and the Owner rejected said offer; and <br />WIfEREAS, the Owner obtained an appraisal for the Property evidencing a value of <br />Forty Four Thousand and 00/100 Dollars ($44,000.00), and of recent improvements to the house <br />of Five Thousand Four Hundred and 00/100 Dollars ($5,400) which amount is approximately <br />Seven Thousand Six Hundred Fifty and 00/100 Dollars ($7,650.00) more than the City's initial <br />offer, and has provided the City a counteroffer of forty Six Thousand and 00/100 Dollars <br />(546,000.00), in accordance with his appraisal and verification of Home Improvement Loan; and <br />