HomeMy WebLinkAboutNo. 2188 approving execution of purchase agreement and other related documents associated with purchase of property loacted at 117 W. South St., 720, 722, 724 and 726 S. Michigan St. in SB cdaRESOLUTION NO. 2188
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROVING THE EXECUTION OF A PURCHASE AGREEMENT AND OTHER
RELATED DOCUMENTS ASSOCIATED WITH THE PURCHASE OF PROPERTY
LOCATED AT 117 WEST SOUTH STREET, 720, 722, '724 AND 726 SOUTH
MICHIGAN STREET IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA
WHEREAS, the City of South Bend ( "City") acting by and through the South Bend
Redevelopment Commission ( "Commission "), governing body of the City of South Bend
Department of Redevelopment, may acquire by purchase interests in property in accordance with the
powers granted to redevelopment commissions under IC 36 -7 -14 ( "Act ") (the Commission is
hereinafter referenced as "Buyer "); and
WHEREAS, the Commission has through the adoption of its Resolution No. 2187 approved
the acquisition of certain real property and improvements located within the South Bend
Development Area and more commonly known and numbered as 117 West South Street, 720, 722,
724 and 726 South Michigan Street all properties being located within St. Joseph County, Indiana
and more particularly described legally at Exhibit "A(1) "attached hereto and incorporated herein
(the aforementioned real estate and improvements thereto are hereinafter referenced collectively as
the "Property "), and
WHEREAS, the Purchase Agreement and other documents necessary to effect the
acquisition of the Property as well as certain assets associated therewith are being finalized by legal
counsel; and
WHEREAS, the Commission approves and endorses the transaction as presented at its
public meeting held on October 7, 2005 and desires to enter into a Purchase Agreement with the
Property owners; and
WHEREAS, the Commission recognizes that time of the essence in order to accomplish
certain actions relating to the transaction.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND
REDEVELOPMENT COMMISSION AS FOLLOWS:
1. The Commission hereby approves and endorses the Purchase Agreement in such form
as presented by and acceptable to the Commission's legal counsel.
2. The Commission hereby directs and authorizes staff and legal counsel to negotiate
and prepare said Purchase Agreement as presented consistent with Commission's standard
form of agreements that are generally utilized by the Commission in its real estate
transactions.
3. The Commission hereby authorizes the President of the Commission to execute and
the Vice President or Secretary to attest the Purchase Agreement as described in this
Resolution and as presented at this meeting with such changes as may be suggested by legal
counsel and approved by the President and Vice President or Secretary with such approval
evidenced by the execution and attestation respectfully, thereof
4. The Commission hereby authorizes the President of the Commission to execute and
the Vice President or Secretary to attest to any and all other documents relating to this
transaction and to effect the closing of said acquisition upon the advice of legal counsel.
5. This Resolution shall be in full force and effect from the and after its passage by the
Commission.
ADOPTED at a meeting of the South Bend Redevelopment Commission, held on October 7
2005, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601
CITY OF SOUTH BEND,
DEPARTMENT OF REDEVELOPMENT
Signature
Marcia I. Jones, President
Printed Name and Title
South Bend Redevelopment Commission
ATTEST:
Sigatiture
Gregory
& -
Downes, Secretary
" � ,d TiT
South Bend Redevelopment Commission
2
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EXHIBIT "A(1)"
Legal Description
117 West South Street (Tax Key # 18-3017-062601)
A lot or parcel of land 82 '/z feet in length, East and West, taken off of the entire
width of the East end of Lot Numbered Thirty -Six (3 6) as shown on the recorded Plat
of Samuel Martin's Addition to the Town, now City of South Bend.
720 South Michigan Street (Tax Key #18- 3022 -_ _
[LEGAL DESCRIPTION TO BE PROVIDED]
722 South Michigan Street (Tax Key #18- 3022 -0810)
The South Half of Lot Numbered Nine (9) as shown on the recorded Plat of
Bronson's Survey of the City of South Bend, St. Joseph County, Indiana.
724 South Michigan Street (Tax Key #18- 3022 -0810)
0 [LEGAL DESCRIPTION TO BE PROVIDED]
726 South Michigan Street (Tax Key #18 -3022 -0811)
A lot or parcel of land 35 I2 feet in width, fronting on South Michigan Street by 10
rods in length, East and West, taken off of and from the entire length of the North
side of Lot Numbered 10, as shown on the recorded Plat of Bronson's Survey of the
City of South Bend, as surveyed by M.W. Stokes, County Surveyor, June 4, 1859,
and recorded in Plat Book 1, page 66 in the Office of the Recorder of St. Joseph
Count, Indiana and made a legal Plat by the law of Indiana, Chapter CLXIII, Acts of
1895; excepting therefrom a strip of land 7 feet in width, East and West, taken off of
and from the entire width of the East end thereof for a public alley.
40 CADOCUMENTS AND SETUNGWPI- IIPPS.000\LOCAL SETTINGS\ TEMP \G5VIEWER \RESOLUTION_SBRC.DOC