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• <br />RESOLUTION NO. 2416 <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 November 2, 2007, the Commission adopted a Resolution <br />setting the offering price (the "Offering Price") and authorizing staff to present an offer to <br />Cleophus Washington as owner of the Property (the "Owner") in an amount not to exceed <br />the Offering Price along with the payment of expenses incidental to the conveyance and <br />detei711ination 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 an appraisal evidencing a fair market <br />value that exceeds the Offering Price and, accordingly, have provided a counteroffer to <br />the Commission in which the Owner proposes to sell the Property to the Commission for <br />$96,000.00 (the "Purchase Price"); and <br />WHEREAS, the staff has reviewed the appraisal and the counteroffer and <br />determined that the although the comparables in the appraisal are not as accurate as the <br />Commission's appraisal, the Purchase Price set forth in the counteroffer is a reasonable <br />price for the Property; and <br />WHEREAS, the Owner has provided a counteroffer to the Commission and <br />propose to execute a standard MLS Residential Purchase Agreement (the "Purchase <br />Agreement") to effect the purchase and sale of the Property; and <br />WHEREAS, the Commission desires to purchase the Property for $96,000.00, <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 form or in substance as the President and <br />Secretary inay approve; and <br />• <br />