HomeMy WebLinkAboutNo. 0671 approving fair use value of land, authorizing execution of contract for sale of land and quit claim deed for transfer of title thereto; land to be disposed of in central downtown project IN R-66. .
RESOLUTION NO. 671
RESOLUTION OF THE SOUTH BEND DEVELOPMENT COMMISSION
APPROVING THE FAIR USE VALUE OF LAND AND AUTHORIZING
THE EXECUTION OF THE CONTRACT FOR SALE OF LAND AND
QUIT CLAIM DEED FOR TRANSFER OF TITLE THERETO IN
CONNECTION WITH LAND TO BE DISPOSED OF IN THE CEN-
TRAL DOWNTOWN PROJECT, INDIANA R -66
WHEREAS, the South Bend Redevelopment Commission is
carrying out urban renewal in an area known as the Central Down-
town Project, pursuant to the Urban Renewal Plan for Project
Number Indiana R -66; and
WHEREAS, the Urban Renewal Plan calls for sale for re-
development purposes by public or private agencies by all required
land in accordance with the provisions of the Urban Renewal Plan;
and
WHEREAS, the parcels of land listed on the attached Ex-
hibit "A" have been appraised by two qualified, independent, pro-
fessional real estate appraisers, and written, signed copies of
the appraisals are contained in the commission files; and
WHEREAS, each appraisal has been reviewed by qualified
staff, and all corrections, revisions or additions requested by
such review have been duly made by the original appraisers; and
WHEREAS, the reviewer has prepared a written report
which indicates the appraisals are complete and consistent in the
factual data contained therein, comply with existing statutory and
regulatory requirements and are acceptable for the determination
of fair values; and
WHEREAS, the South Bend Public Transportation Corpora-
tion has submitted a proposal to redevelop the parcels in Exhibit
"A" within the Central Downtown Project, and that proposal has
been processed in accordance with all applicable statutes of the
State of Indiana and the United States and all rules and regula-
tions governing the sale of Urban Renewal land.
NOW, THEREFORE, BE IT RESOLVED by the South Bend Re-
development Commission, as follows:
1. Based on the appraisals and the review thereof, the
fair value for the reuse of the parcels listed in Exhibit "A ",
attached hereto and made a part hereof, is established as Fifty
Three Thousand Six Hundred ($53,600.00) Dollars.
2. The Executive Director of the Department of Re-
development is authorized to prepare a Redevelopment agreement
and a Quit Claim deed for the purpose of conveying the land in
Exhibit "A" to the proposed redeveloper; and
3. The President of the South Bend Redevelopment Com-
mission is authorized to execute the Redevelopment agreement and
Quit Claim deed, and the Secretary of the Commission is authorized
to attest to the agreement and deed.
Adcpted at the regular meeting of the South Bend Re-
development Commission held on February 11, 1983 in the Office of
the Commission, Room 1200, County -City Building, 227 West Jeffer-
son Boulevard, South Bend, Indiana 46601.
ATTEST:
REDEVELOPMENT COMMISSION
.*
lIMTZ, PRESIDENT
SCHEDULE A
All of Lots Thirty -One (31), Thirty -Two (32), Thirty -Three (33) and
Thirty -Four (34) of the original plat of the Town (now City) of South
Bend, St. Joseph County, Indiana, except a strip of land 21 feet in
width east and west, taken off of and from the entire east end of
said lots, together with all that part of a 14 -foot wide alley lying
between said Lots Thirty -Three (33) and Thirty -Four (34), more
particularly described as follows:
Beginning at the southwest corner of Lot Thirty -One (31), thence
North on and along the west line of Lots Thirty -One (31 , Thirty -Two
(32), Thirty -Three (33), and Thirty -Four (34), a distance of 278.60
feet to the northwest corner of lot Thirty -Four (34); thence Fast on
and along the north line of Lot Thirty -Four (34) a distance of 144.73
feet to a point that is 21.0 feet west of the northeast corner of
said Lot 34; thence South a distance of 278.51 feet to a point on the
south line of said Lot Thirty -One (31) that is 21.0 feet west of the
southeast corner of Lot 31, thence West on and along the south line
of said Lot Thirty -One (31) a distance of 144.68 feet to the point of
beginning.
Said tract contains 40,306 sq. ft. (0.925 Acre).
Said tract of land is subject to the following restrictions:
1. A 50 -foot wide corridor upon, across and over the north 50
feet of the above described tract of land. Said corridor shall
provide an open and clear vista between the St. Joseph County
Courthouse portico (located on Main Street) and the canopy at the
South Bend Century Center (located at 120 South St. Joseph
Street) .
2. Aerial rights above elevation 739 (USC & GS mean sea level
datum) to be retained by Grantor.
3. Subsurface rights below elevation 707 (USC & GS mean sea level
datum) to be retained by Grantor.
Said restriction shall be running with the land and shall be binding
on all successors in title to said land.
Also subject to easements, liens and restrictions of record.
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