HomeMy WebLinkAboutNo. 0421 approving assignment of successful bid, authorizing execution of redevelopment agreement for disposition of parcel 7-1, execution of quit clami deed(s) for transfer of title thereto in connection with parcel 7-1 SBCDA, IN R-66M
-
KM
o 0
RESOLUTION NO. 421
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION,
THE GOVERNING BODY OF THE CITY OF SOUTH BEND DEPARTMENT
OF REDEVELOPMENT, APPROVING ASSIGNMENT OF THE SUCCESSFUL
BID, AUTHORIZING THE EXECUTION OF THE REDEVELOPMENT
AGREEMENT FOR THE DISPOSITION OF PARCEL 7 -1 AND THE
EXECUTION OF THE QUIT CLAIM DEED(S) FOR THE TRANSFER
OF TITLE THERETO, AND AUTHORIZING THE COMMENCEMENT OF
REDEVELOPMENT CONSTRUCTION IN CONNECTION WITH SAID
DISPOSITION PARCEL 7 -1 IN THE SOUTH BEND CENTRAL DOWNTOWN
AREA, 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 St. Joseph Bank and Trust Company of South Bend,
Indiana, as Redeveloper has submitted a proposal to redevelop the fol-
lowing parcel within the South Bend Central Downtown Area, Indiana R -66,
and that said proposal has been processed in accordance with all applicable
statutes of the State of Indiana and of the United States and with appli-
cable rules and regulations governing the sale of land acquired by the
South Bend Redevelopment Commission;
PARCEL NO. NAME OF REDEVELOPER
Disposition Parcel 7 -1 St. Joseph Bank and Trust Company of South
Central Downtown Area, Bend, Indiana, as Trustee for Land Trust
Indiana R -66 No. 31- 001935 -1
WHEREAS, said proposal submitted by the St. Joseph Bank and Trust
Company of South Bend, Indiana, as Trustee for Land Trust No. 31- 001935 -1
has been 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 said bid proposal has been determined
by the Redevelopment Commission to be the highest and best bid; and
WHEREAS, the St. Joseph Bank and Trust Company of South
Bend, Indiana, has assigned its interests and obligations under
said bid proposal to Royal Inns of America, Inc., a California
corporation; and
WHEREAS, the U. S. Department of Housing and Urban Development
has approved Royal Inns of America, Inc. as Redeveloper for Disposition
Parcel 7 -1; and
WHEREAS, Royal Inns of America, Inc. must commence the redevelopment
construction on said Parcel 7 -1 forthwith in order to meet its construc-
tion schedule; 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. 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 approves the assignment
of said bid proposal from the St. Joseph Bank and Trust Company of South
Bend, Indiana, as Trustee for Land Trust No. 31- 001935 -1, to Royal Inns of
America, Inc., a California corporation.
3. Said Redevelopment Commission hereby accepts and approves Royal
Inns of America, Inc. as Redeveloper for Disposition Parcel 7 -1 in the
Central Downtown Project, Indiana R -66.
4. 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 7 -1 to said Redeveloper.
-2-
w
5. 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 that the Secretary of said Rede-
velopment Commission is hereby authorized to attest said Contract and Deed(s).
6. The Construction Plans of the Redeveloper are hereby approved,
and the evidence of equity capital and mortgage financing is hereby accepted
as adequate.
7. Royal Inns of America, Inc., the Redeveloper of Disposition
Parcel 7 -1, is hereby authorized to commence redevelopment construction
immediately and said construction may continue until completion of the
redevelopment project subject only to execution of the Contract for Sale of
Land for Private Redevelopment by the Redeveloper not later than September 15,
1972, and compliance by said Redeveloper with the terms and conditions of
said Contract.
Adopted at the regular meeting of the South Bend Redevelopment
Commission held on August 18, 1972, in the office of the Redevelopment
Commission, Room 1200, County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana, 46601.
ATTEST:
B. L. Wade, Assi tant ecretary
SEAL
-3-
CITY OF SOUTH BEND
DEPARTMENT OF REDEVELOPMENT
Fred I. Helm, , President