6.C.(3) Resolution No. 2522 - Laserfiche WebLink

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RESOLUTION NO. 2522 RESOLUTION APPROVING AND ACCENTING A COON"CEROFFER FOR "I'HE ACQUISITION OF PROPERTY IN THE. SOUTH 6END CENTRAL DEVELOPMENT AREA WHEREAS, under the authority granted by Indiana Codc ~ 36-7-14, c't .i~c~q. and in furtherance of the South Bend Central Dcvdopment Area Development Plan (the ..Plan-). the South Bend Redevelopment Commission (the ~~Conunission'~) has determined that it is neccssarv to acquire unencumbered fee simple interest in ca-tain property located w-ithin the area heretofore designated as the South Bend Central Development Area fthe "Arca~~) ~°ithin the City of South Bcnd. Indiana (the "Cit~~~). which property is more particularly described at Exhibit A attached hereto and incorporated herein (the "Propertv~~): and WHEREAS. on October 17. 2004, the Commission adopted a Resolution setting the o~~i~crin~~ price (the "Ol~fcrin~, Price") and authori~in~~ stair to present an offer to GMS Realty. Inc., an Indiana corporation, as o~~~ncr of the Property (the: °O~~ner..) in an amount not to exceed the Offerin~~ Price along ~~~ith the payment of expenses incidental to the com~evance and determination o[~the title of the Property: and WHEREAS. the staff has presented the O~~~ner an otter f2x the Offering Price as authorized. which the O~~~ncr rejected: and WHEREAS. the Owner has provided a counteroffer to the Commission for Eighty tine and 00%100 Dollars 085.000.00), plus all expenses related to the acquisition: and WHEREAS, the staff has rcvie~a~cd the counteroffer and determined that the proposal is reasonable in light of the appraisal amount. conditions in the area, and the amount of announced de~~clopment in the immediate area: and WHEREAS, the Commission has completed its acyuisition procedures for the Property and sufficient funds arc available for the purchase of the Property: NOW, THEREFORE. BE IT RESOLVED by the South Bend Rede~clopment Commission that: 1. ~fhe Commission herebv finds that the consideration set girth in the Purchase A~~reement is reasonable considering the circumstances and that it is in the best interest of the citizens of the City and the South Bend Rcde~~elopment District and consistent ~~'ith die purposes and requirements set forth in Indiana Codc ~ 26-7-14 to accept the counteroffer c~ idenced in the Purchase A~~recment. ~. The Commission herebv approves and accepts the Purchase A~~rccment and authorizes the President and the Secretary to execute and attest, respectircly, the Assignment of the Purchase Agreement undior the Purchase Agreement ~~-ith such