HomeMy WebLinkAboutNo. 2066 approving the execution of an agreement for disposition of real estate and other related documents concerning the transfer of property located in the AEDAC TIO RESOLUTION NO. 2066
A RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA
REDEVELOPMENT COMMISSION APPROVING THE EXECUTION OF AN
AGREEMENT FOR DISPOSITION OF REAL ESTATE AND OTHER RELATED DOCUMENTS
CONCERNING THE TRANSFER OF PROPERTY LOCATED IN THE AIRPORT ECONOMIC
DEVELOPMENT AREA
WHEREAS, pursuant to the powers granted under Ind. Code § 36- 7 -14 -1, et seq., the South Bend
Redevelopment Commission ( "Commission ") has previously declared an area within the City of South Bend to be
an economic development area commonly known as the "Airport Economic Development Area "; and
WHEREAS, the Commission is the owner of certain real property ( "Property ") which is located within
Airport Economic Development Area, said Property being more particularly described at Exhibit "A" attached
hereto and incorporated herein
WHEREAS, Moreau Court Investments, LLC, through Harbor Investments II, LLC ( "Developer ") is the
owner of the real property and improvements (`Building ") located adjacent to the Property; and
WHEREAS, the Building was previously owned by a not - for - profit entity, and as such, was not generating
taxes for the City of South Bend; and
WHEREAS, FiServ, Inc., through its subsidiary Data -Link Systems, LLC (FiServ) is a for - profit entity that
had determined to relocate its operations outside of the City of South Bend resulting in the loss of approximately
195 jobs from the community; and
WHEREAS, FiSery now desires to remain within the City of South Bend and further desires to lease a
portion of the Building from the Developer for its business operations under certain terms and conditions including,
but not limited to, the availability of sufficient parking area to accommodate FiSery FiServ's use and occupancy
of the Building by its employees and business invitees; and
WHEREAS, relocating FiSery to the Building will result in the retention of approximately 195 jobs within
the City of South bend and it is further anticipated that the Building will generate approximately Two Hundred
Fifteen Thousand and 00 /100 Dollars ($215,000.00) in annual tax revenue for the City; and
WHEREAS, as part of the FiSery retention effort, Developer has requested that the Commission transfer
the Property to Developer for nominal consideration of Developer providing parking on Property for use by FiSery
in order to retain the business within the City of South Bend; and
WHEREAS, after careful consideration, the Commission has determined that it is reasonable to transfer
the Property to Developer as proposed because the City will otherwise benefit by the retention of FiSery jobs and
returning the Building to the City's tax roll, that the conditions proposed by Developer are reasonable and that
disposition of the Property to Developer for use as a parking area for the Building is necessary to and consistent with
the Airport Economic Development Area Development Plan; and
WHEREAS, the Commission desires to enter into an Agreement for Disposition of Real Property and other
related documents concerning the transfer of this Property to the Developer consistent with Developer's proposal
and this Resolution; and
WHEREAS, the Commission m eets in re gul ar sessions on a semi-monthly basis and com p letion of the
paperwork related to this real estate transaction may require immediate action from the Commission, including the
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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 in a timely manner.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION, AS FOLLOWS:
The Commission hereby finds that the transfer of the Property as proposed by Developer is
reasonable because the City will otherwise benefit by the retention of FiSery jobs and returning the
Building to the City's tax roll, that the conditions proposed by Developer are reasonable and that
disposition of the Property to Developer for use as a parking area is necessary to and consistent
with the Airport Economic Development Area Development Plan is reasonable.
2. The Commission hereby approves the form of Agreement for Disposition of Real Property
presented to the Commission at this meeting and authorizes the President of the Commission to
execute and the Vice President or Secretary to attest said agreement in the form 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
respectively, thereof.
3. The Commission hereby authorizes the either (i) the President of the Commission to execute and
the Vice President or Secretary to attest or (ii) the Commission's legal counsel to execute on its
behalf any and all other documents necessary to effectuate the 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 18, 2004 at 1308
County -City Building, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
President
ATTEST:
By:
Its: Se retary
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Exhibit "A"
Legal Description
Lot Numbered Three (3) as shown on the recorded plat of Blackthorn Corporate Office Park Minor Subdivision #9
recorded September 16, 1998 as Document Number 9848692 in the Office of the Recorder of St. Joseph County,
Indiana. (Tax Key No. 25- 1018 - 062416)
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