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HomeMy WebLinkAboutNo. 2709 approving/accepting a counteroffer for the acquisition of property in the SSDA (Afifeh Bullard by Shabib Fakhouri, 748 Hawbaker St.)RESOLUTION NO. 2709 RESOLUTION APPROVING AND ACCEPTING A COUNTEROFFER FOR THE ACQUISITION OF PROPERTY IN THE SOUTH SIDE DEVELOPMENT AREA WHEREAS, under the authority granted by Indiana Code § 36 -7 -14, et seq. and in furtherance of the South Side Development Area Development Plan (the "Plan "), the South Bend Redevelopment Commission (the "Commission ") has determined that it is necessary to acquire unencumbered fee simple interest in certain property located within the area heretofore designated as the South Side Development Area (the "Area ") within the City of South Bend, Indiana (the "City "), which property is more particularly described at Exhibit A attached hereto and incorporated herein (the "Property "); and WHEREAS, on June 4, 2010, the Commission adopted a Resolution setting the Acquisition Offering Price and authorizing staff to present an offer to Afifeh A. Bullard by Shabib Fakhouri , Power of Attorney, as owners of the Property (the "Owner ") in an amount not to exceed the Acquisition Offering Price along with the payment of expenses incidental to the conveyance and determination of the title of the Property; and WHEREAS, the staff has presented the Owner an offer in the amount of the Acquisition Offering Price as authorized, which the Owner rejected; and WHEREAS the Owner has p rovided a counteroffer to the Commission for $50,000.00, plus all moving expenses related to the acquisition; and WHEREAS, the staff has reviewed the counteroffer and determined that the counteroffer is reasonable in light of the appraisal amount, conditions in the area, and the amount of announced development in the immediate area; and WHEREAS, the Commission has completed its acquisition procedures for the Property and sufficient funds are available for the purchase of the Property; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission that: 1. The Commission hereby finds that the consideration set forth in the Purchase Agreement is reasonable considering the circumstances and that it is in the best interest of the citizens of the City and the South Bend Redevelopment District and consistent with the purposes and requirements set forth in Indiana Code § 36 -7 -14 to accept the counteroffer evidenced in the Purchase Agreement. 2. The Commission hereby approves and accepts the Purchase Agreement 16 and authorizes the President and the Secretary to execute and attest, respectively, the Purchase Agreement with such changes in form or in substance as they deem to be necessary or appropriate to complete the transfer, with such approval to be conclusively evidenced by such execution and attestation, respectively. The President and /or Secretary are each authorized to execute and deliver any other documentation necessary to complete the acquisition of the Property. Legal counsel for the Commission is further authorized to close the transaction on behalf of the Commission and execute any incidental closing documents necessary to complete the transaction. 3. The Secretary of the Commission is instructed to place a copy of the Purchase Agreement presented to the Commission with this Resolution in the records and minutes of this meeting. 4. Commission staff members are authorized to execute on behalf of the Commission any documents necessary to carry out the intent of this resolution. ADOPTED at a Regular Meeting of the South Bend Redevelopment Commission held on August 6, 2010, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. • ATTE T: C� i e -- David A. Varner, Vice President Printed Name and Title South Bend Redevelopment Commission is CITY OF SOUTH BEND, DEPARTMENT OF REDEVELOPMENT s zgnature Marcia I. Jones, President Printed Name and I it le South Bend Redevelopment Commission • i EXHIBIT A PROPERTY DESCRIPTION AND FINAL PURCHASE PRICE Final Tax Key No. Address Owner Purchase Price 23- 1035 -1798 748 Hawbaker Street Afifeh A. Bullard $50,000.00 by Shabib Fakhouri, Power of Attorney