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Resolution No. 171 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY <br />APPROVING THE TRANSFER OF REAL PROPERTY <br />TO THE SOUTH BEND REDEVELOPMENT COMMISSION <br />WHEREAS, the South Bend Redevelopment Authority ("Authority") is the owner of a parcel <br />of real property situated in St. Joseph County, Indiana, described at Exhibit "A "attached hereto and <br />incorporated herein ("Real Property"); and <br />.WHEREAS, the South Bend Redevelopment Commission ("Commission") is the Lessee of <br />the Real Property pursuant to that certain Lease Between South Bend RedevelopmentAuthority and <br />South Bend Redevelopment Commission, dated November 1, 1993 and recorded in the Office of the <br />Recorder of St. Joseph County, Indiana on December 14,1993 as Instrument No. 9351906 ("Lease"); <br />and <br />WHEREAS, pursuant to Ind. Code § 36-7-14.5-12, the Authority may dispose of real <br />property; and <br />WHEREAS, pursuant to Ind. Code § 36-1-11-8, the Authority may exchange or transfer <br />property with another governmental entity upon terms and conditions agreed upon by the two (2) <br />entities as evidenced by the adoption of substantially identical resolutions of each entity; and <br />WHEREAS, the Authority is desirous of transferring the Real Property to the City of South <br />Bend; for the use and benefit of its Department of Redevelopment so that the property maybe sold <br />for purposes of development. <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT <br />AUTHORITY AS FOLLOWS THAT: <br />The transfer of the Real Property situated in St. Joseph County, Indiana, and <br />generally described at Exhibit `A "to the City ofSouth-Bend, for the use and benefit <br />of its Department of Redevelopment shall be, and hereby is; approved. <br />2. The President and Secretary of the Authority shall be, and hereby~are, authorized, <br />respectively, to execute and attest to the execution of a quitclaim deed conveying all <br />of the right, title and interest of the City of South Bend, Indiana in and to the Real <br />Property to the City of South Bend, for the use and benefit of its Department of <br />Redevelopment upon the occurrence of the conditions set forth immediately above: <br />3. The Commission's leasehold interest in the Real Property under the Lease, is merged <br />by operation of law upon transfer of the Authority's fee interest in the Real Property. <br />4. This Resolution shall be in full force and effect upon its adoption. <br />C:\Documents and Settings\jhullingU,ocal Settings\Temp\XPgrpwise\Res_PropertyTransferToSBRC-REII'roject.doc <br />