HomeMy WebLinkAboutNo. 2175 approving transfer of property located in the south side development area and authorizing execution of documents necessary to effect transfer of the propertyZ
•
RESOLUTION NO. 2175
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROVING THE TRANSFER OF PROPERTY LOCATED IN THE SOUTH
SIDE DEVELOPMENT AREA AND AUTHORIZING EXECUTION OF
DOCUMENTS NECESSARY TO EFFECT TRANSFER OF THE PROPERTY
WHEREAS, pursuant to the powers granted under Indiana Code § 36 -7 -14, the
South Bend Redevelopment Commission ( "Commission ") has previously declared an
area within the City of South Bend, Indiana to be a redevelopment area commonly
known as the "South Side Development Area "; and
WHEREAS, pursuant to an intergovernmental transfer from the City of South
Bend acting through its Board of Public Works anticipated on June 20, 2005, the
Commission will take title to certain property located within the South Side
Development Area, said property being more particularly described at Exhibit A
attached hereto and incorporated herein ( "Property "); and
WHEREAS, the Commission and Anchor Acquisitions, Ltd. ( "Developer ") are
parties to an agreement dated April 8, 2004 ( "Agreement ") related to the Erskine
Commons retail development project ( "Proj ect "); and
WHEREAS, in accordance with Section 5 of the Agreement, the Commission
agreed to facilitate the Project by assisting Developer in assembling real property
necessary to accomplish the Project and further, to sell the Property to the Developer
for use in the Project; and
WHEREAS, based upon a value established by independent appraisals of the
Property obtained for the Commission, the Commission is willing to sell and Developer
is willing to buy the Property for the sum of $123,500; and
WHEREAS, the Commission meets in regular sessions on a semi - monthly
basis and completion of the paperwork related to the real estate transaction may require
immediate action from the Commission or its authorized representative, including the
execution of certain documents; and
WHEREAS, the Commission believes that it is in the best interests of the
public that the Property transfer be completed and that all necessary approvals are taken
40 in a timely manner.
El
NOW, THEREFORE, BE IT RESOLVED by the South Bend
Redevelopment Commission as follows:
1. The Commission hereby finds that transfer to Developer of the Property
described at Exhibit 4 is consistent with the Commission's obligations
previously expressed and agreed to in the April 8, 2004 Agreement with
Developer in that the transfer will facilitate completion of the Erskine Commons
Project.
2. The Commission hereby finds that the transfer of Property to Developer
will further the execution of the South Side Development Area Development
Plan and will best serve the interests of the community from the standpoint of
both human and economic welfare.
3. The Commission hereby authorizes (1) the President of the Commission
to execute and the Vice President or Secretary to attest and/or (ii) the
Commission's legal counsel to execute on its behalf any and documents
necessary to effectuate the transfer and closing of the real estate transaction
upon the advice of legal counsel.
4. This resolution shall be in full force and effect from and after its passage
by the Commission.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on June
17, 2005 at 1308 County -City Building, 227 West Jefferson, South Bend, Indiana
46601.
SOUIT H BEND REDEVELOPMENT
COMMISSION
By:
Its:
ATTEST:
By:
Its: Secretary
Robert W. Hunt
2
H_\Wpdata\Projects\SSDA\Anchor Project\Resolutions\RC2175 Firestationclosing.Doc
EXHIBIT A
Legal Description
A parcel of land in the Southeast Quarter of Section 26, Township
37 North, Range 2 East, described as follows:
Beginning at the Northeast corner of the Southeast Quarter of said
Section 26; running thence West 150 feet; thence South 150 feet;
thence East 150 feet; thence North 150 feet to the place of the
beginning.
ALSO,
A parcel of land in the Southeast Quarter (1/4) of Section 26,
Township 37 North, Range 2 East, described as follows: Beginning
at a point on the East line of said Section 26, One Hundred Fifty
(150) feet South of the Northeast corner of the Southeast Quarter
of said Section 26, which point is also the Southeast corner of a
tract heretofore conveyed by Grantor to the Grantee by Warranty
Deed dated January 20, 1966, and recorded April 5, 1967 in Deed
Record 686, page 457; thence South along the East line of said
Section 26, a distance of Ninety (90) feet; thence West parallel
with the East-West centerline of said Section 26, a distance of
One Hundred Fifty (150) feet; thence North parallel with the East
line of said Section 26, a distance of Ninety (90) feet to the
Southwest corner of the said tract heretofore conveyed; thence
East along the South side of said tract heretofore conveyed One
Hundred Fifty (150) feet to the place of beginning.
0 F:\HOME\CGREENE\WPData\Projects\SSDA\Anchor Project\Resolutions\FireStationRC.doc