HomeMy WebLinkAboutNo. 1671 approving proposed lease between SBDA & SBRC for acquisition of certain land, removal of improvemnts located thereon approving prelimin. plans/costs estimates, setting pub. hearing on proposed lease pursuant to IC 36-7-14-25.2RESOLUTION NO. 1671
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING A PROPOSED LEASE BETWEEN THE
SOUTH BEND REDEVELOPMENT AUTHORITY AND THE SOUTH BEND
REDEVELOPMENT COMMISSION FOR THE ACQUISITION OF
CERTAIN LAND AND REMOVAL OF THE IMPROVEMENTS
LOCATED THEREON, APPROVING PRELIMINARY PLANS
AND COST ESTIMATES, SETTING A PUBLIC HEARING
ON THE PROPOSED LEASE PURSUANT TO IC 36 -7 -14 -25.2, AND
AUTHORIZING PUBLICATION OF NOTICE OF THE PUBLIC HEARING
4; WHEREAS, the South Bend Redevelopment Commission (the "Commission ")
anticipates that the South Bend Redevelopment Authority (the "Authority ") will consider a resolution
at its next meeting on March 1, 1999, indicating its intent to issue its South Bend Redevelopment
Authority Lease Rental Revenue Notes to secure certain indebtedness for the acquisition of certain
real estate and removal of the improvements thereon (the "Project ") and approving a proposed lease
between the Authority and the Commission for the lease of the Project; and
WHEREAS, the preliminary plans and cost estimates for the Project will be filed with
the Authority; and
WHEREAS, the preliminary plans and cost estimates for the Project have been filed
with the Commission; and
WHEREAS, the Commission desires to approve the proposed lease, a copy of which
is attached hereto as Exhibit A, and publish notice of public hearing and conduct a public hearing
on the proposed lease pursuant to IC 36 -7 -14 -25.2; and
WHEREAS, after the public hearing, the Commission may adopt a resolution
co pursuant to IC 36 -7 -14 -25.2 authorizing the execution of the proposed lease on behalf of the City
of South Bend if it finds that the use of the Project throughout the term of the proposed lease will
serve the public purpose of the City of South Bend, is in the best interests of its residents and the
lease rental provided for is fair and reasonable.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND
REDEVELOPMENT COMMISSION AS FOLLOWS:
1. The Commission hereby approves the preliminary plans and cost estimates
which have been filed with the Commission.
2. The Commission hereby approves the proposed lease between the Authority
co and the Commission to be dated as of March 1, 1999.
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3. The Commission hereby schedules the public hearing on the lease to be held
on March 19, 1999 at 10:00 a.m., Eastern Standard Time, in Room 1308, County -City Building, 227
West Jefferson Boulevard, South Bend, Indiana.
4. The Commission hereby authorizes the publication of a notice of public
hearing on the lease pursuant to IC 5 -3 -1.
5. This resolution shall be in full force and effect after its adoption by the
Commission.
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ADOPTED at a meeting of the South Bend Redevelopment Commission held on
cw February 19, 1999 in Room 1308, County -City Building, 227 West Jefferson Boulevard, South
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Bend, Indiana.
ATTEST:
I P "wo rr r"
SOUT REDEVELOP NT COMMISSION
By:
Robert W. Hunt, President
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