HomeMy WebLinkAboutNo. 0242 assuring disposition of certain parcels of land in connection with the Central Downtown Project IND R-66the
and
as t
to a
RESOLUTION NO. 242
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION ASSURING DISPOSITION OF CERTAIN
PARCELS OF LAND IN CONNECTION WITH THE CENTRAL
DOWNTOWN PROJECT, IND. R -66
(HEREAS, the United States of America (hereinafter called
,overnment ") has approved Part I of the Application for Loan
,ant on September 23, 1968 for a certain project identified
Central Downtown Project, Ind. R -66 (hereinafter referred
the "Project"); and
HEREAS, it is anticipated that the City of South Bend
Department of Redevelopment (hereinafter called the "Local Public
Agency") will enter into a certain Loan and Capital Grant Contract
with the Government for said project which said Contract may be
identified as Contract Ind. R -66 (LG) ; and
HEREAS, the Government has requested assurance that certain
parcels within the Urban Renewal Plan designated for public use will
be pu chased for said public use; and
HEREAS, it may become necessary for the Redevelopment Com-
missi i n to acquire the disposition parcels hereinafter described in
order to carry out the purposes of the Urban Renewal Plan; and
HEREAS, under the provisions of the Redevelopment of Cities
and T wns Act of 1953, as amended, of the State of Indiana, the South
Bend ledevelopment Commission, which is the Governing Body of the
City Df South Bend, Department of Redevelopment, has the power to
sell Jonds to finance certain Urban Renewal project activities, in-
cludi g purchase of disposition parcels, and to levy a tax against
the R development Tax District not to exceed 2% of the total assessed
value of that District in order to repay said bonds;
OW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commi sion, the Governing Body of the City of South Bend, Department
of Re evelopment, as follows:
That in the event it becomes necessary, in order to carry out
the purposes of the Urban Renewal Plan of the said Central Downtown
Project, Ind. R -66, the Redevelopment Commission does hereby commit
itself to purchase in whole or in part, as may be necessary, the
following described disposition parcels in said project area:
Block 5, Parcel 1
Block 11, Parcel 1
hat the necessary monies for the purchase of said parcels
shall be financed from the sale of Redevelopment District Bonds as
autho ized under the State of Indiana Redevelopment of Cities and
Towns Act of 1953, as amended.