HomeMy WebLinkAboutNo. 0446 accepting/approving First Bank & Trust Co., trustee and A.G.A. Realty Co., all pertaining to a part of disposition parcel 4-72 in the Central Downtown Project INDIANA R-66RESOLUTION NO. 446
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION,
ACCEPTING AND APPROVING THE FIRST BANK AND TRUST COMPANY
OF SOUTH BEND, SOUTH BEND, INDIANA, TRUSTEE, AND A.G.A.
REALTY COMPANY OF SOUTH BEND, AN INDIANA PARTNERSHIP, AS
THE REDEVELOPERS, AUTHORIZING THE PREPARATION AND EXECUTION
OF THE CONTRACT FOR DISPOSITION AND REDEVELOPMENT AND THE
EXECUTION OF QUIT CLAIM DEED(S) FOR TRANSFER OF TITLE, AND
APPROVING THE CONSTRUCTION PLANS AND THE EQUITY CAPITAL AND
MORTGAGE FINANCING, ALL PERTAINING TO A PART OF DISPOSITION
PARCEL 4 -72 IN THE CENTRAL DOWNTOWN PROJECT, INDIANA R -66.
WHEREAS, the City of South Bend Department of Redevelopment is
carrying out the urban renewal for an area known as the South Bend Central
Downtown Project, Indiana R -66, pursuant to the Urban Renewal Plan adopted
by the Common Council of the City of South Bend, Indiana, by Resolution No.
193 -68 on September 10, 1968; and
WHEREAS, said Urban Renewal Plan calls for the sale for redevelopment
by public or private agencies, persons, or associations of acquired land in
accordance with the provision of said Plan; and
WHEREAS, the First Bank and Trust Company of South Bend, South
Bend, Indiana, as Trustee for Land Trust No. 29 -5121, has submitted a proposal
to redevelop Disposition Parcel 4 -72, except the South 31 feet, within the
South Bend Central Downtown Project, Indiana R -66, and said proposal has been
processed in accordance with all applicable statutes of the State of Indiana
and of the United States and with applicable rules and regulations governing
the sale of land acquired by the South Bend Redevelopment Commission; and
WHEREAS, said proposal submitted by the First Bank and Trust Com-
pany of South Bend, South Bend, Indiana, as Trustee for Land Trust No. 29 -5121
is hereby determined by the South Bend Redevelopment Commission as satisfactory
and as not less than the offering price of said Redevelopment Commission for
uses in accordance with the Urban Renewal Plan; and
WHEREAS, A.G.A. Realty Company of South Bend, an Indiana partnership,
is the beneficiary under said Land Trust No. 29 -5121 and will be the actual
Redeveloper under said bid proposal; and
WHEREAS, the U. S. Department of Housing and Urban Development has
approved A.G.A. Realty Company of South Bend and the First Bank and Trust
Company of South Bend, Trustee, as Redevelopers;
Now, Therefore, Be It
RESOLVED, by the South Bend Redevelopment Commission, the governing
body of the City of South Bend Department of Redevelopment, that:
1. Said Redevelopment Commission hereby accepts and approves A.G.A.
Realty Company of South Bend, an Indiana partnership, and the First Bank. and
Trust Company of South Bend, South Bend, Indiana, as Trustee for Land Trust
No. 29 -5121, as Redevelopers for the redevelopment of Disposition Parcel 4 -72,
except the South 31 feet, in the Central Downtown Project, Indiana R -66.
2. The Executive Director of the Department of Redevelopment is
hereby authorized to have prepared a Contract for Sale of Land for Private
Redevelopment and Quit Claim Deed(s) for the purpose of conveying said part
of Disposition Parcel 4 -72 to said Redevelopers.
3. The President of the South Bend Redevelopment Commission is
hereby authorized to execute said Contract for Sale of Land for Private Re-
development and Quit Claim Deed(s) and the Secretary of said Redevelopment
Commission is hereby authorized to attest said Contract and Deed(s).
4. The Construction Plans of the Redevelopers are hereby approved,
and the evidence of equity capital and mortgage financing is hereby accepted
as adequate.
Adopted at the regular meeting of the South Bend Redevelopment Com-
mission held on April 6, 1973, in the office of the Redevelopment Commission,
Room 1200, County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana, 46601.
ATTEST:
l
Rev. Willie V. Williams, Secretary
SEAL
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
Fre ,J: H lmen, President
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