6.C.(1) Resolution No. 2583 - Laserfiche WebLink

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~~ . ~ . C ~~ RESOLUTION NO. 2583 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT C'OMMISSiON TERMINATING THE TRANSFL-R OF REAL PROPERTY FROM THE SOUTH BEND REDEVELOPMENT COMMISSION TO THE SOUTH BEND PUBLIC TRANSPORTATION CORPORATION. WHEREAS. pursuant to I.C. 36-7-14-3, the South Bend Redevelopment Commission ("Commission") is the ~~overnin~~ body of the City of South Bend Department of Redevelopment ("City') and, pursuant to LC. 36-7-14-12.2 and -19, may acquire and dispose of interests in property: and WHEREAS, pursuant to I.C. 3fi-9-4-12, the South Bend Public Transportation Corporation ("Transpo'") is a separate municipal corporation and, pursuant to LC. 36-9-4-30, Transpo, acting through its Board of Directors ("Board"), tray acquire interests in property; and WHEREAS, Transpo and the City, acting through the Conmiission, are parties to an agreement entitled "Contract for Purchase and Sale of Real Estate" (the "A~~reement') related to the acquisition ofi certain properties located at and commonly known as the South Bend Stamping Plant described as a part of the Northeast Quarter of Section 14. Township 37 North, Ranee 2 East in the City of South Bend. Indiana. containin~~ 38.?3 acres more or less ('Property"); and WHEREAS, a portion of the Propert~~ (approximately 20 acres) was intended to be the location of TRANSPO~s new corporate and facilities campus (the "Operations Facility"): and WHEREAS. the Agreement pro~~ided that approximately 18 acres of the Property would be leased back to the Commission for commercial development; and WHEREAS, pursuant to the Agreement, Transpo provided to the City. actin~~ through the Commission.. an earnest money deposit of One Million Dollars (S I.000,000.00)(the "Earnest Money Deposif': and WHEREAS. the City. acting d~rough the Commission. has requested that Transpo locate the Operations Facility on property different fi-om the Property (the "Ne~~~ Property "): and WHEREAS. Connnission has determined that relocating the Operations Facility to the New Property is in the best interests of Transpo and the City: and WHEREAS, the Commission and Transpo have agreed to terminate the Agreement on the Property and returns the Earnest Money Deposit to Transpo and enter into a new purchase and sale agreement on the New Property; and WHEREAS. Transpo has or will consider a substantially similar resolution approving the terniination of the Agreement and the return of the Earnest Money Deposit. NOW. THEREFORE. BE IT RESOLVED by the South Bend Public Transportation Corporation that: I) Transpo shall execute an agreement with the City. acting through the Commission. substantially in the form attached hereto as Exhibit A, to terminate the Agreement which shall provide for the return of the Earnest Money Deposit to Transpo. 2) This Resolution shall be in full force and effect upon its adoption by the goverling body of Transpo and upon the adoption of a substantially similar resolution by the Commission. Don Inks or ,leff Gibney is authorized to execute on behalf of the Commission arty documents necessary to carry out die intent of this Resolution.