HomeMy WebLinkAboutApproving amended lease for land & improvements btw. SB Red Authority & SB Red Comm ORDII�IAI�IG� I�Io. 8794-97
Passed by the Common Council of the City of South Bend,Indiana
June 9. 19 97
J
Attest: � °, ° " � i GL-� City Clerk
LORET J.D A
Attest. ` � President of Common Council
Presented by me to the Mayor of the City of South Bend,Indiana
June 10, 19 97
- �
~ , �� City Clerk
LO TTA J UDA
Approved and signed by me 19 ��
- ` � Mayor
o��r��� , �To. ��a y-��
�N ORDINANCF C��? THIC COi�Z�I01�T COUNCIL
OF THE CI�"Y OF SOUT�-I BEl!'D, YNDIANA, APp1tOVING
AN AlYIET�IDED AND RESTAT �'D LEASE FOR CE1tTAIN LAN� �Ia1D
PT�JBLT� IMP1aO�TEMENTS B�T�W'�EN T�-IE SOUTH BEND RFDEV�l��+��a��;"��`
AUTfI�JRIT�' AND THE SQTiTTI� BEND REDEV��e�]���.:��°i q:�4i��l��:�����:�1
STATEMENT OF PU�.POSE AND INTENT:
'i'he �outh i3end Redevel��pment Commission(the "Commission") at a nnPeting �n
M:y 2, 19�7, adopted Resolution No. 1�06 (th� "Res��lution"), which approved a }�roposed
a�menc?.ed and�cstated lease between the South Bend Redevelopment Authority (the "Autho�ity")
and t��e Comniission to be dated as of Pviay 1, 1997, for certain land and public improve.ments.
Ttje !-�uthority, at a meeting on May�, 1997, approved the proposed amended and restat�d lease.
Ttie prupc�^.eu amended and restated lease (i) amends and restates the lease �.ated as of I�riarch l,
�992, betvr:;;:.r. the �:ommission and the Author'ity as amended by an addendum to Izas� �«te� as
of ��aaust 7, ].9�2, between the Authority and the Cammissian (collectively, the "Originai
Leas��'), wh°reby the �,uthority leases to the Comrnissian tlie real estate and a buiidin� loca�ee
thereon knawn as the Palais Royale (i�.� "Palais koyale") located�in the City �f 5n�.�t�� Ber�a,
Inuian�(th� "C�ty") (the "Original ProjPat"); and (�ij provides that the Authority ti��ill lea:;;,to the
Cc�nunisszQn certain additional real estate and t�ie building located thereon known as tht ��iri;�
Civic Cent°r and the improvements to b� made thereto by the Authority and the improv�mer.ts
to be made to certlin portions of the Paluis Rovale by the Au�hority (the "Additional Prc�ierlt"i.
By the adnption of the Resolution, the �ommission scheduled a publi�hearing on said aine�i�eci
and rrstat�d lease to be held on June 6, 19�7, pur:,uant to IC �6-7-14-?5.2, and authcri�zec. tYie
public�tion of'a n�tice of public hea*in�on said amended and restat�d lease pursuant to I�` 5-;-i.
Or� Ji:ne 6, 1997, said public hearing was heta :j.nd ali interested parties were �ro�.�d��d tiz�
ap�ortur.�ty to be heard at the kearing.
Th� Commissian, at its meeting o� Jtine 6, 1997, adopted Res�lutian �Na. 1 S07
_�'indi:��, �ursuant tu IC 36-7-14.5-14, ihat tne renta? p;yments to be paid by the Conu�.iissior.tu�
Lhe Aut3iority far�h� Additional Project�ursuant�o ti:e aniended and restated lease, at a ra�e not
tr� excer�. C�ne Milli�n'Three Izundred�inety TI-ious�.�d and 00/100 Dollazs ($1,390,0�3Q.U0) per
year vay��bie ir� semiannual installments heginr.ing �rs the day the Project is complet�d and re�c�;
for ase; tir 3uly �8, 1999, w:uchever is lzter, through expiratian of the amended an1 r�s�ater�
l;:as�, are fair �nd re�onanle, and finding, pu;su�ifi tr� tC 36-?-14-25.2, that t��e �ase at th�
� Addi�ien�.l Projecx throughout the term af the amended ar.d restated lease will serve tl-ie p�tbli�
_ pur�7�se cif th� City and is in the best interests ot its resid��nts. Said Resolution No. 1507 f�:rthei•
rat�rzed and a�pr�ved action tal:en bv die Szcretary of the Commission to file with the Cc?n�mor�
Council �f th� City (the "Common.Coun�il") �an approving ordinance for the purpUSes c;f said
(:at���i!'s f nding, prior ta the Commissian's exec�ation of the amended and restated lease, ±Yra±
t�if� rental payments provided for ttie A.d:liti�nal Pmj�ct are fair and reasonable and that ?he use
of the Additional Project throughout �17;; tei�rn of�e ��-r��.nded ar►d restated lease will serve the
public purpose of the City and is in ����: best interes�s of its residents, and for purposes of
approving the amended and xestated leasc.
The Common Couneil desires to approv�said amenc�eci and restated lease,pursuant
to IC 36-7-14�25.2, wkuch provides that any lease approved by a ��esolution of the CQmmission
must be approved by an ordinance of the iiscal boay �f the unita
NOW, THEREFORE, B� IT �RDAINED BY TH� CU1��IlVIC➢N �UUNCIL OF THE
CITY OF SUUTH BEND:
1. The Common Council finds that the rental payments �rovided for the Additional
Praject, as approved by the Commission, aze fair and reasor.able, and further finds that the use
or the Additional Praject �hroughout the term of the amended and restated lease wi11 �ezve the
public purpose of the City and is in �h.e �est interests of its re�idents.
2. The Common Council hereby approves said amend�d and restatea leas�, as
ap}�roved by the Commission, pursuant to IC 36-7••14-25.2, in subst��ntially the f�rm pro��ided at
this rneeting and attached hereto as Exhibit "A".
3. This Ordinance shall be in fu11 force and effect fr�m and after passage by the
Common Council and approval by the Nlayor.
CO1�Ti110I\` CpLJNCIL OF"THF,°CITI'
OF SOUTH BEND, Ir1DI.ANA
By� .
Memb�r of tize Comnion Co ril
1:\W POOCS�P.RROMPOL�SiFBEND�fORRIS�ORDINANC
�1�8C,� !P�► �i�s"�8�� $`���f��
1st �:EAD�NG �`„��—�
P�J�I.lC HEtaRING (�-q- q -2- �•��1Y 2 1 19�J7
3 rd READING �_ C� _ Gj 7 �
t�OT APPROVED LORrTPS1.P. Ct�1��,
RE-ERRED CITYCLERY.,^3.�;�P;�,IJl, �
P!',SSED (D��J� R / -- �,_.��.a...