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The Board finds that the development of Saint Joseph's High School on a vacant inner city tract consisting of over 21 acres ("Medical Center Site") is of vital importance to the City of South Bend and will encourage the revitalization of the neighborhoods surrounding that site. The BPW further finds that no other interested party has approached the City with a viable plan for re-use of that site and that the economic effect of the development of the High School as a 35 million dollar project will be of significant benefit to the City of South Bend and its residents. 2. The Board further finds that the development of St. Joseph's High School on the vacant Medical Center Site is consistent with City Plan, the City's comprehensive plan adopted by the South Bend Common Council on November 13, 2001 by Resolution 3657-06. A copy of City Plan is viewable at http://www.southbend cityplan.org/City%20PIan%2OFinal.htm, and such development is consistent with the City's East Bank Village Master Plan. 3. The transfer of the property described in Exhibit "A" to a person or entity in the manner required in this resolution will facilitate compatible land use planning in that the surrounding parcels to Exhibit "A" are planned for use as athletic fields and the property described in Exhibit "A" should be used for compatible land use purposes. 4. The provisions of I.C. 36-1-11-4.2 may apply to the transfer of land as set forth in this resolution because Saint Joseph's High School as an Indiana non-profit entity does not meet the exemption requirements of I.C. 36-1-11-1 and may submit an offer for the real estate pursuant to this resolution. 5. ...:......... , in the alternative, the exemptions set forth in I.C. 36-1-11-1 are deemed to apply to this transaction, the City elects to use the procedures of I.C. 36-1-11-4.2, pursuant to the powers set forth in the Indiana Home Rule Act I.C. 36-1-3, in order to provide a mechanism for the transfer of property by which the price of the property is set by a fair and neutral means unrelated to the status of the purchaser. 6. The staff of the Board is hereby directed to have the property described in Exhibit "A"promptly appraised by two appraisers who must be professionally engaged in making appraisals, and who must be licensed under I.C. 25-34-1. Any appraisal heretofore completed within 60 days of the date of this resolution will qualify as such an appraisal. 7. The staff of the Board is directed to publish notice in accordance with I.C. 5-3-1 stating the minimum amount of any offer to be accepted after the receipt of the appraisals referenced above. All offers must meet the criteria of promoting the economic development project related to Saint Joseph's High School and must provide compatible land use with surrounding land. 8. The Board shall receive offers for such property pursuant to this resolution on or before October 10, 2011 at 9:30 a.m. and shall consider such offers at its regularly scheduled meeting on October 10, 2011 at 9:30 a.m. Such offers shall be evaluated based on offer amount and consistency with the economic development and land use compatibility criteria set forth in this Resolution and applicable Indiana law. Adopted this 19"' day of September, 2011. 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