HomeMy WebLinkAboutNo. 3043 approving/accepting a counteroffer for the acquisition of property in the AEDA (1502 S. Kendall)14
RESOLUTION NO. 3043
RESOLUTION APPROVING AND ACCEPTING A COUNTEROFFER
FOR THE ACQUISITION OF PROPERTY IN THE
AIRPORT ECONOMIC DEVELOPMENT AREA
WHEREAS, under the authority granted by Indiana Code § 36 -7 -14, et seq. and
in furtherance of the Airport Economic Development Area Development Plan (the
"Plan "), the South Bend Redevelopment Commission (the "Commission ") has
determined that it is necessary to acquire unencumbered fee simple interest in certain
property located within the area heretofore designated as the Airport Economic
Development Area (the "Area ") within the City of South Bend, Indiana (the "City "),
which property is more particularly described at Exhibit A attached hereto and
incorporated herein (the "Property "); and
WHEREAS, on June 14, 2012, the Commission adopted a Resolution setting the
Acquisition Offering Price and authorizing staff to present an offer to Vaturi Zvi, as
owner of the Property (the "Owner ") in an amount not to exceed the Acquisition Offering
Price along with the payment of expenses incidental to the conveyance and determination
of the title of the Property; and
WHEREAS, the staff has presented the Owner an offer for the Acquisition
Offering Price as authorized, which the Owner rejected; and
WHEREAS, the Owner has provided a counteroffer to the Commission for
$23,000.00; and
WHEREAS, the staff has reviewed the counteroffer and determined that the
proposal is reasonable in light of the appraisal amount, conditions in the area, and the
amount of announced development in the immediate area; and
WHEREAS, pursuant to IC 36- 7 -14 -19 (b), the South Bend Redevelopment
Commission finds that the Owner's counteroffer is reasonable and in the best interests of
the residents of the community and acceptance of the Owner's counteroffer is specifically
authorized by the Commission; and
WHEREAS, the Commission has completed its acquisition procedures for the
Property and sufficient funds are available for the purchase of the Property;
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commission that:
1. The Commission hereby finds that the consideration set forth in the
ILPurchase Agreement is reasonable considering the circumstances and that it is in the best
interest of the citizens of the City and the South Bend Redevelopment District and
consistent with the purposes and requirements set forth in Indiana Code § 36 -7 -14 to
accept the counteroffer evidenced in the Purchase Agreement.
2. The Commission hereby approves and accepts the Purchase Agreement
and authorizes the President and the Secretary to execute and attest, respectively, the
Assignment of the Purchase Agreement and /or the Purchase Agreement with such
changes in form or in substance as they deem to be necessary or appropriate to complete
the transfer, with such approval to be conclusively evidenced by such execution and
attestation, respectively. The President and /or Secretary are each authorized to execute
and deliver any other documentation necessary to complete the acquisition of the
Property. Staff members for the Commission are further authorized to close the
transaction on behalf of the Commission and execute any incidental closing documents
necessary to complete the transaction.
3. The Secretary of the Commission is instructed to place a copy of the
Purchase Agreement presented to the Commission with this Resolution in the records and
minutes of this meeting.
4. Commission staff members are authorized to execute on behalf of the
Commission any documents necessary to carry out the intent of this resolution.
ADOPTED at a Regular Meeting of the South Bend Redevelopment
Commission held on June 14, 2012, at 1308 County -City Building, 227 West Jefferson
Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND,
DEPARTMENT REDEVELOPMENT
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Marcia I. Jones President
71rinted Arame and I it le
ATTEST:
Signature
Donald Alford, Sr., Secretary
Printed Name an it e
South Bend Redevelopment Commission
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South Bend Redevelopment Commission
14
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EXHIBIT A
PROPERTY DESCRIPTION AND PURCHASE PRICE
Counter Acquisition
Tax Key No.
Address
Owner
Price
18- 8026 -1034
1502 S. Kendall
Vaturi Zvi
$23,000.00