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RESOLUTION NO. QS1-8a
<br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br /> OF SOUTH BEND APPROVING A LEASE AGREEMENT BETWEEN
<br /> THE BOARD OF PUBLIC WORKS AND LOCK JOINT TUBE
<br /> COMPANY, INC . FOR LEASE OF A PORTION OF BROWNFIELD
<br /> PARK.
<br /> WHEREAS , the Board of Public Works at its meeting held on
<br /> August 24, 1981 , determined that a parcel of city-owned real estate
<br /> located at the northwest corner of Angela Boulevard and Riverside
<br /> Drive , more commonly known as a portion of Brownfield Park, was not
<br /> necessary to the public use , nor was it set aside by state or city
<br /> law for public purposes ; and
<br /> WHEREAS , on August 31 , 1981 , the Common Council approved
<br /> and ratified the action of the Board of Public Works , arrangements
<br /> were completed for an appraisal of the property, and a bid date was
<br /> established for the receipt of sealed bids for its purchase; and
<br /> WHEREAS , Lock Joint Tube Company, Inc . submitted a sole
<br /> bid for the property in the amount of $11 ,430. 00 , and, after negotia-
<br /> tion, a Purchase Agreement was entered into between the city and
<br /> Lock Joint Tube Company, Inc . on November 2 , 1981 , in the amount of
<br /> $18 ,250. 00 , said purchase contingent upon the successful rezoning
<br /> of the property from "A" Residential to "D" Light Industrial ; and
<br /> WHEREAS , subsequent to November 2 , 1981 , the Common Council
<br /> determined that a lease of the property, rather than the sale of the
<br /> property, would be in the best interests of the city and the public ,
<br /> and, in fact , the Common Council at its meeting held on February 8 .
<br /> 1932 , approved the rezoning of the property to "D" Light Industrial
<br /> subject to the execution of a 20-year Lease Agreement (excluding
<br /> renewal options) for its use ; and
<br /> WHEREAS , as a result of the rezoning of the property
<br /> subject to execution of a 20-year Lease Agreement , the Board of
<br /> Public Works on March 3 , 1982 , and in accordance with state statutes
<br /> regulating the lease of city-owned property, received and awarded
<br /> the sole bid of Lock Joint Tube Company, Inc . in the amount of
<br /> $150 . 00 per month for the initial 20-year term; $225 . 00 per month
<br /> for the first renewed term of 15 years ; and $300. 00 per month for
<br /> the second renewed term of 15 years . Said bid was awarded in
<br /> accordance with the specifications prepared for the lease of the
<br /> property which contained certain restrictions for its use; and
<br /> WHEREAS , The Board of Public Works and Lock Joint Tube
<br /> Company, Inc. have entered into a Lease Agreement for lease of the
<br /> subject property in accordance with the bid awarded on March 8 , 1982 ,
<br /> subject to approval by the Common Council as required by state law.
<br /> NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF
<br /> THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS :
<br /> SECTION 1. That the Lease Agreement dated May 17 , 1982 ,
<br /> between the Board of Public Works and Lock Joint Tube Company, Inc.
<br /> for lease of the aforementioned portion of Brownfield Park, is
<br /> hereby approved and confirmed . Said Lease Agreement attached hereto .
<br /> SECTION 2 . That this Resolution shall be in full force
<br /> and effect from and after its passage by the Common Council and
<br /> approval by the Mayor.
<br /> _ em.er o t e o ' on ounci
<br /> PRESENTED S.- 2 y I'.7 FILED IN CLERK'S OFFICE
<br /> NOT APPROVED E I signed only to provide an MAY 1 9 1982
<br /> aDOPTRO 415"-a 4 opportunity for public discussion , .
<br /> and Council action on the issue. Irene Gammon
<br /> CITY DERR SDDIN MEND,RM.
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