HomeMy WebLinkAboutNo. 1983 approving the execution of a development agreement and other related documents associated with the mall redevelopment project (Montgomery Ward/Target)RESOLUTION NO. 1983
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROVING THE EXECUTION OF A DEVELOPMENT AGREEMENT
AND OTHER RELATED DOCUMENTS ASSOCIATED WITH THE
MALL REDEVELOPMENT PROJECT
WHEREAS, the City of South Bend ( "City ") and Kite Capital, LLC ( "Developer ") have
previously entered into a Memorandum of Understanding ( "MOU ") which provides for Developer
to develop "Erskine Village ", a retail shopping mall to be located on the site of now - existing
Scottsdale Mall within the South Side Development Area of the City of South Bend ( "Project "); and
WHEREAS, in the first phase of development, the Project provides for the demolition of
the retail facility formerly known as "Montgomery Ward" and the construction of a retail department
store, the nature and quality of which is consistent with "Target "; and
WHEREAS, the Commission approves and endorses the Project as described in the MOU
and as presented at the public meeting of the Commission on June 20, 2003; and
WHEREAS, the Commission further desires to enter into a Development Agreement with
Developer and, upon the advice of legal counsel, any other documents incidental to the
redevelopment of the Mall (collectively, the "Mall Redevelopment Documents ") and
WHEREAS, the Commission recognizes that time of the essence in order to accomplish
certain actions relating to the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND
REDEVELOPMENT COMMISSION AS FOLLOWS:
1. The Commission hereby approves and endorses the Project as described in the MOU
and as presented at the public meeting of the Commission on June 20, 2003.
2. The Commission hereby directs and authorizes staff and legal counsel to negotiate
and prepare said Mall Redevelopment Documents consistent with the MOU and the June 20a'
presentation.
3. The Commission hereby authorizes the President of the Commission to execute and
the Vice President or Secretary to attest the Mall Redevelopment Documents 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
Project and to effect the closing of said Project upon the advice of legal counsel.
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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 June 20,
2003, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601
SOUTH BEND REDEVELOPMENT COMMISSION
v
Marcia I. Jones, Vice President
ATTEST:
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