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<br />• <br />RESOLUTION NO. 2422 <br />RESOLUTION APPROVING AND ACCEPTING A COUNTEROFFER <br />FOR THE ACQUISITION OF PROPERTY IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA <br />WHEREAS, under the authority granted by Ind. Code ~ 36-7-14, et seq. and in <br />furtherance of the South Bend Central Development Area Plan ("Plan"), the South Bend <br />Redevelopment Commission ("Commission") has determined that it is necessary to <br />acquire unencumbered fee simple interest in certain property located within the area <br />heretofore designated as the South Bend Central Development Area (the "Area") within <br />the City of South Bend, Indiana (the "City"), which property is more particularly <br />described at Exhibit A attached hereto and incorporated herein ("Property"); and <br />WHEREAS, on December 21, 2007, the Commission adopted a Resolution <br />setting the offering price (the "Offering Price") and authorizing staff to present an offer to <br />Chris L. Wood as owner of the Property (the "Owner") in an amount not to exceed the <br />Offering Price along with the payment of expenses incidental to the conveyance and <br />determination of the title of the Property; and <br />WHEREAS, the staff has presented the Owner an offer for the Offering Price as <br />authorized, which the Owner rejected; and <br />WHEREAS, the Owner has provided a counteroffer to the Commission in <br />which the Owner proposes to sell the Property to the Commission for $130,000.00 (the <br />"Purchase Price"); and <br />WHEREAS, the staff has reviewed the counteroffer and determined that the <br />Purchase Price set forth in the counteroffer is a reasonable price for the Property; and <br />WHEREAS, the Owner has provided a counteroffer to the Commission in the <br />form of a form of Purchase Agreement (the "Purchase Agreement") to effect the purchase <br />and sale of the Property; and <br />WHEREAS, the Commission desires to purchase the Property for $li0,000.00, <br />approve the form of Purchase Agreement, and authorize the President and Secretary of <br />the Commission to execute and attest, respectively, the Purchase Agreement on behalf of <br />the Commission, with such changes in fornl or in substance as the President and <br />Secretary may approve; and <br />WHEREAS, the Commission has completed its acquisition procedures for the <br />Property and sufficient funds are available for the purchase of the Property; <br />• <br />