HomeMy WebLinkAboutNo. 0592 authorizing execution of a lease with respect to Central Downtown Project, IN R-66j..
RESOLUTION No. 592
AWN RESOLUTION AUTHORIZING EXECUTION
OF A LEASE WITH RESPECT TO
CENTRAL DOWNTOWN PROJECT, INDIANA R -66
WHEREAS, the South Bend Redevelopment Commission (the "Redevelop-
ment Commission ") of the City of South Bend Department of Redevelopment
acting pursuant to Indiana Code 18 -7 -7 (the "Urban Renewal Act ") has
undertaken a program for the clearance and reconstruction, rehabili-
tation and redevelopment of slum and blighted areas in the City,
including a redevelopment project within the "Central Downtown Project,
Indiana R -66" generally described as being located in an area bounded
by Colfax Avenue on the north, Michigan Street on the west, Washington
Street on the south and St. Joseph Street on the east in the City of
South Bend, Indiana (the "Project "); and
WHEREAS, all structures thereon have been removed and pursuant
to Section 19 of the Urban Renewal Act the Project real estate was
offered for disposition to the public after compliance with the pro-
cedures of said Section 19, including the preparation of two separate
appraisals by independent appraisers, preparation of an offering sheet
describing the real estate and terms of the offer, and publication of
notice of the offering at least one time in two newspapers of general
circulation in the City identifying at a time and place not less than
21 days after such publication the Redevelopment Commission at an open
public meeting would receive written offers for the purchase or lease
of the real estate in accordance with the terms of the offering sheet,
but at such time and place no offers were received for the purchase or
lease thereof; and
WHEREAS, the City of South Bend has received from the United States
of America, Department of Housing and Urban Development an Urban Develop-
ment Grant in the amount of $7,600,000 for the purpose of construction
of an approximately 800 space parking facility, street and site improve-
ments, and pedestrian malls (the "Grant Facilities ") on the Project real
estate, provided that there is constructed from other funds an approxi-
mately 300 room hotel (the "Hotel ") and an approximately 132,000 square
foot area bank /office building (the "Bank /Office "); and
WHEREAS, Rahn Properties II, an Indiana partnership (the "Rede-
veloper"), has agreed to construct the Hotel in conjunction
r with the construction by the City of the Grant Facilities provided
that the Redevelopment Commission leases to the Redeveloper the
real estate on which the Hotel and related portions of the Grant
r
Facilities are to be located pursuant to a proposed lease (the
"Lease ") in the form submitted to this Commission and consisting
of Part I -- Ground Lease Agreement For Private Redevelopment and
Part II- -Lease of Land for Private Redevelopment; Terms and Con-
ditions [Form HUD -3150B (9 -69)1;
NOW, THEREFORE, Be It Resolved by the South Bend
Redevelopment Commission of the City of South Bend, Department
of Redevelopment, as follows:
Section 1. The Lease in the form before the meeting at
which this Resolution is adopted together with such changes thereto
as are approved by counsel for the Redevelopment Commission is
hereby authorized and approved, and the Lease shall be executed
on behalf of the City of South Bend, Department of Redevelopment
by the President of the Redevelopment Commission and attested by
the Secretary of the Redevelopment Commission.
Section 2. The construction by the City of South Bend
of the Grant Facilities at the Project is hereby authorized and
approved.
Section 3. The officers and employees of the City of
South Bend, Department of Redevelopment are hereby authors -ed to
take such further action and do such other things as may be neces-
sary or required by this Resolution in connection with the execu-
tion and delivery of the Lease and construction by the City of
the Grant Facilities.
Section 4. This Resolution shall be in full force and
effect from and after its passage.
Adopted and approved this 27th day of September 1979.
President
ATTEST:
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