HomeMy WebLinkAboutNo. 0423 reaffirming Res. No. 407, authorizing execution of contract disposition, execution of quit claim deed(s) for transfer of title, all pertaining to disposition parcel 8-3 in Central Downtown Project, IN R-66RESOLUTION NO. 423
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RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION,
REAFFIRMING RESOLUTION NO. 407, ACCEPTING AND APPROVING
CITY DEVELOPMENT COMPANY, AN INDIANA PARTNERSHIP, AS A
REDEVELOPER, AUTHORIZING THE PREPARATION AND EXECUTION
OF THE CONTRACT 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 DIS-
POSITION PARCEL 8 -3 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 redevelop-
ment 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, Indiana,
as Trustee for Land Trust No. 29 -5094, has submitted a proposal to re-
develop Disposition Parcel 8 -3 within the South Bend Central Downtown
Project, Indiana R -66, and said proposal has been processed in accor-
dance 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.
WHEREAS, said proposal submitted by the First Bank and Trust Com-
pany of South Bend, Indiana, as Trustee for Land Trust No. 29 -5094
has been determined by the South Bend Redevelopment Commission in Re-
solution No. 407, adopted on June 16, 1972, as satisfactory and as not
less than the offering price of said Redevelopment Commission for uses
in accordance with the Urban Renewal Plan, and said bid proposal has
been determined by the Redevelopment Commission in said Resolution No.
407 to be the highest and best bid; and
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WHEREAS, City Development Company, an Indiana partnership
is the beneficiary under said Land Trust No. 29 -5094 and will be the
actual Redeveloper under said bid proposal; and
WHEREAS, the U. S. Department of Housing and Urban Development
has approved City Development Company and the First Bank and Trust
Company of South Bend as Redevelopers for Disposition Parcel 8 -3;
Now, Therefore, Be It
RESOLVED, by the South Bend Redevelopment Commission, the gover-
ning body of the City of South Bend Department of Redevelopment, that:
1. The previous determination by said Redevelopment Commission
of the above - referenced bid proposal as the highest and best bid is
hereby reaffirmed.
2. Said Redevelopment Commission hereby accepts and approves
City Development Company, an Indiana partnership, as a Redeveloper under
said bid proposal, together with the First Bank and Trust Company of
South Bend, Indiana, as Trustee for Land Trust No. 29 -5094, for the re-
development of Disposition Parcel 8 -3 in the Central Downtown Project,
Indiana R -66.
3. 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 Disposition Parcel 8 -3 to said Redevelopers.
4. The President of the South Bend Redevelopment Commission is
hereby authorized to execute said Contract for Sale of Land for Private
Redevelopment and Quit Claim Deed(s) and the Secretary of said Redevelop-
ment Commission is hereby authorized to attest said Contract and Deed(s).
5. The Construction Plans of the Redevelopers are hereby approved,
and the evidence of equity capital and mortgage financing is hereby accepted
as adequate.
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Adopted at the regular meeting of the South Bend Redevelopment
Commission held on September 1, 1972, in the office of the Redevelopment
Commission, Room 1200, County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana, 46601.
5A ST:
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v. Willie V. Williams, Secretary
SEAL
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
Free J "Helm n, President
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