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HomeMy WebLinkAboutNo. 1036 relating to acquisition of property within the Studebaker Corridor Developmebnt Area by eminent domainN 14 RESOLUTION NO. 1036 RESOLUTION RELATING TO ACQUISITION OF PROPERTY WITHIN THE STUDEBAKER CORRIDOR DEVELOPMENT AREA BY EMINENT DOMAIN WHEREAS, it is deemed necessary by the South Bend Redevelopment Commission, in furtherance of the Studebaker Corridor Development Area Development Plan, to acquire the real estate identified on Exhibit "A" in the Studebaker Corridor Development Area in the City of South Bend, Indiana; and WHEREAS, the owners of the real estate identified on Exhibit "A" have offered to sell the real estate to the Redevelopment Commission under the terms and conditions of their separate, equivalent, offer letters, attached as Exhibit "B ". NOW THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment Commission, as follows: 1. The South Bend Redevelopment Commission accepts the offer to sell the real estate described on Exhibit "A" under the terms listed on Exhibit "B ". The offering price is hereby found to be consistent with the fair market value of the property as established by two independent appraisers. 2. In the event the agreement on the purchase of the property cannot be consummated within sixty (60) days after notice of this acceptance, the Commission hereby determines that it is necessary to proceed to acquire the parcel of real estate described on Exhibit "A" under the power of eminent domain in order to carry out the Studebaker Corridor Development Area Development Plan and that the use for which the real estate is to be acquired is for the public benefit, and hereby directs the Director, in the eventuality, to cause a notice and final offer in writing to be made to the owners. 3. The Commission's attorney is authorized and directed to file a complaint, after the sixty (60) day period described herein, in the name of the City of South Bend, Indiana, on behalf of the Department of Redevelopment in the appropriate court of St. Joseph County, Indiana, in order that appriasers be appointed to establish the value of said real estate, and all other necessary and proper actions be taken to accomplish the taking by eminent domain pursuant to law. Adopted at the Regular Meeting of the South Bend Redevelopment Commission held on January 10, 1992 in the office of the Commission, 1200 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. Michael Donoho, Secretary CITY OF SOUTH BEND, INDIANA REDEVELOPMENT COMMISSION Paula N. Auburn, President EXHIBIT "A" RESOLUTION NO. 1036 STUDEBAKER CORRIDOR DEVELOPMENT AREA PARCEL 1 -7 Land situated in the County of St. Joseph, State of Indiana, and described as follows: Parts of the Southeast Quarter (11) of Section Eleven (1i), and the Southwest Quarter (4) of Section Twelve (12) , Township Thirty -seven (37) North, Range Two (2) East of the 2nd P.M., more particularly described as follows: Commencing at the Northeast corner of Tract Numbered Three (3) of the Studebaker Corporation Replat as recorded in Plat Book 11, page 184, in the Office of the Recorder of St. Joseph County, Indiana; thence South 00 °12'10" East along the East line of said Tract Nc. feet r beginning; thence 3, a distance of 690.31 for a point o� continuing South 00 °12'10" Ease a distance cf 346.68 feet tc a point; 'thence South 89 °37'28" West a distance of 399.58 fe to a point; thence North 00'13'47" West a distance o 40.01 feet to a pcint; thence South 89' 42'25" West a distance c_ 291.06 feet to a point; thence North 4 °39'23" East a distance of 39.43 feet to a point; thence North 2'06'30" East a distance of 268.30 feet to a point; thence North 89 °42'54" East a distance of 676.49 feet to the point of beginning. H* 13 - — EXHIBIT "B" ROG0LDTI0« 0O, I036 December 23, 1991 _ Jon R. Hunt Executive Director Department of Economic Development City of South Send 1200 County City Building South Bend, Indiana 46601 re: Purchase of the Avanti Property from N.A.B. Realty Cu. Dear Mr. Hunt, Many thanks for your courtesy and time spent with Geoff Newman and Fred Baer these past Few weeks discussing the purchase of the Avanti property by the City's Redevelopment Commission. Contained herein is our offer to sell which we deem to be fair. We will sell the property to the City for a purchase price of Ark, $240,000.00. We offer to place $45'000.00 of the purchase price in escrow for a period of two years from the date of closing. [he escrowed funds may be called upon by the City to pay for the costs of clean-up of environmental contamination which may be determined to exist on the property site. Any unused portion of the escrowed funds are to be released to the sellers at the end of the two year period. lf environmental clean-up costs exceed the escrowed amount then the City shall assume the excess. Sale is to be subject to the City assuming property taxes payable for 1990-91 and 1991'92 and also subject to easements of record. The City will pay for the cost of the Title Insurance Policy. [he undersigned hereby con[irms the above proposal, agrees to be bound by the terms thereof, and to execute such documents as may be required �0�� ��`o conclude this transaction. Sincerely yours, Sylva Altman Owner of 40% interest Ll EXHIBIT "B" RESOLUTION NO. 1036 N. A. B. Building Co. c/o 405 W. Sample St. South Bend IN 46601 December 19, 1991 Mr. Jon R. Hunt, Exec. Dir. Dept. of Economic Development City of South Bend 1200 County -City Building South Bend IN 46601 re: Purchase of the Avanti Property from N.A.B. Realty Co. Dear Jon, We would like to thank you for your courtesy and time spent with us these past few weeks discussing the purchase of the Avanti property by the City's Redevelopment Commission. Contained herein is our offer to sell which we deem to be fair. ID We will sell the property to the City for a purchase price of $240,000.00. We offer to place $45,000.00 of the purchase price in escrow for a period of two years from the date of closing. The escrowed funds may be called upon by the City to pay for the costs of clean -up of environmental contamination which may be determined to exist on the property site. Any unused portion of the escrowed funds are to be released to the sellers at the end of the two year period. If environ- mental clean -up costs shall exceed the escrowed amount then the City shall assume the excess. Sale is to be subject to the City assuming property taxes payable for 1990 -91 and 1991 -92 and also subject to easements of record. The City will pay for the cost of the Title Insurance Policy. Upon acceptance of our offer by the Redevelopment Commission we will proceed to secure formal approval from all of the ownership group. Sincerely yous, A 44 � �� Frederick K. Baer Partner, N.A.B. Realty Co. Geoffrey I. Newman Partner, N.A.B. Realty Co, EXHIBIT "B" RESOLUTION NO. 1036 ecember 23, 1991 Jon R. Hunt Executive Director Department of Economic Development City of South Send 1200 County City Building South Bend, Indiana 46601 re: Purchase of the Avanti Property from N.A.B. Realty Co. Dear Hr. Hunt, Many thanks for your courtesy and time spent with Geoff Newman and Fred Baer these past few weeks discussing the purchase of the Avanti property by the City's Redevelopment Commission. Contained herein is our offer to sell which we deem to be [air. We will sell the property to the City for a purchase price of $240,000.00. ANN We offer to place $45,000.00 of the purchase price in escrow for a period of two years from the date of closing. [he escrowed funds may be called upon by the City to pay for the costs of clean-up of environmental contamination which may be determined to exist on the property site. Any unused portion of the escrowed funds are to be released to the sellers at the end of the two year period. If environmental clean-up costs exceed the escrowed amount then the City shall assume the excess. Sale is to be subject to the City assuming property taxes payable for 1990-91 and 1991'92 and also subject to easements of record. The City will pay for the cost of the Title Insurance Policy. The undersigned hereby con[irms the above proposalv agrees to be bound by the terms thereof, and to execute such documents as may be ,equired A�}o conclude this transaction. %W c ane yours, uerman — Owner of 10% interest EXHIBIT "B" RESOLUTION NO. 1036 Jon R. Hunt Executive Director Department of Economic Development City of South Bend 1200 County City Building South Bend, Indiana 46601 Re: Purchase of Avanti Building Dear Jon: Lee Newman P.O. Box 652 Lincoln, MA 01773 January 2, 1992 Many thanks for your courtesy and time spent with Geoff Newman and Fred Baer these past few weeks discussing the purchase of the Avanti property by the City's Redevelopment Commission. Con- tained herein is our offer to sell which we deem to be fair. We will sell the property to the City for a purchase price of $240,000.00. We offer to place $45,000.00 of the purchase price in escrow for a period of two years from the date of closing. The escrowed funds may be called upon by the City to pay for the costs of clean -up of environmental contamination which may be determined to exist on the property site. Any unused portion of the es- crowed funds are to be released to the sellers at the end of the two year period. If environmental clean -up costs exceed the escrowed amount, then the City shall assume the excess. Sale is to be subject to the City assuming property taxes payable for 1990 -91 and 1991 -92 and also subject to easements of record. The City will pay for the cost of the Title Insurance Policy, In addition, I request that the City provide for my review and written approval copies of all documents as may be required to conclude this transaction. I also request that the City issue a check payable directly to me for my proportionate share of the purchase price by mailing to my address as indicated above. My proportionate share of any funds in the escrow account at the end of the two year period should also be made payable directly to me. Sincerely yours, lz4- Lee Newman EXHIBIT "B" RESOLUTION 00. 1036 ^ �~-December 23, 1991 ��� Jon R. Hunt Executive Director Department of Economic Development City of South Bend 1200 County City Building South Bendr Indiana 46601 re: Purchase of the Avanti Property from N.A.B. Realty Co. Dear Mr. Hunt, Many thanks for your courtesy and time spent with Geoff Newman and Fped Baer these past few weeks discussing the purchase of the Avanti property by the City's Redevelopment Commission. Contained herein is our offer to sell which we deem to be fair. We will sell the property to the City for a purchase price of C`$240v000.00. We offer to place $45~000.00 of the purchase price in escrow for a period of two years from the date of closing. The escrowed Funds may be called upon by the City to pay for the costs of clean-up of environmental contamination which may be determined to exist on the property site. Any unused portion of the escrowed funds are to be released to the sellers at the end of the two year period. IF environmental clean-up costs exceed the escrowed amount then the City shall assume the excess. Sale is to be subject to the City assuming property taxes payable for 1990-91 and 1991-92 and also subject to easements of record. The City will pay for the cost of the Title Insurance Policy. The undersigned hereby confirms the above proposal, agrees to be bound y the terms thereof, and to execute such documents as may be required �m..o conclude this transaction. Sincerely yoursv Lyrrn Newman Owner of 10% interest