HomeMy WebLinkAboutNo. 0113 authorizing acceptance and consent fo assignment of Cummins Engine Co., Inc. of Columbus, IN, to South Bend Lathe for land in Sample Street INDIANA R-7 Redevelopment AreaRESOLUTION NO. 113
RtZOLUTION AUTHORIZING ACCEPTANCE AND CONSENT TO THE ASSIGNMENT
O CUMMINS ENGINE COMPANY, INC. OF COLUMBUS, INDIANA TO THE
SOUTH BEND LATHE, A DIVISION OF AMSTED INDUSTRIES, INCORPORATED
R LAND IN THE SAMPLE STREET INDIANA R-7 REDEVELOPMENT AREA.
Cummins Engine Company, Inc. of Columbus, Indiana submitted a
written offer meeting the approved minimum price on disposal parcel commonly
referred to as Number 61 Sample Street Redevelopment Project Indiana R -7,
which was approved by the South Bend Redevelopment Commission by appropriate
resolution on October 15, 1964, and
WHEREAS, said Cummins Engine Company, Inc. has assigned its right, title
and interest in and to said real estate described in said offer to South Bend
Lathe, a division of Amsted Industries, Incorporated, and
WHEREkS, the South Bend-Redevelopment Commission has determined that
said Cummi s Engine Company, Inc. has determined that since said real estate
does not a join the real estate used as its foundry in the City of South
Bend, and cannot conveniently use said real estate and that South Bend Lathe,
a division of Amsted Industries, Incorporated, has purchased the real estate
immediatelv adjoining said Parcel Number 6 and can conveniently use the
real estate for the same purposes as contemplated by Cummins Engine Company,
Inc., and that there has been no speculation by Cummins Engine Company, Inc.,
in its assignment of its interest to the South Bend Lathe, a division of
Amsted.Ind stries, Incorporated, and
WHERE S, South Bend Lathe, a division of Amsted Industries, Incorporated,
has filed their Redeveloper's Statement for public disclosure and the
South Bend Redevelopment Commission has determined that South Bend Lathe, a
division o Amsted Industries, Incorporated, possesses the qualifications and
financial resources to acquire and develop the land in accordance with
Urban Rene al Plan, and
WHE , South Bend Lathe, a division of Amsted Industries, Incorporated,
has accepted the assignment of Cummins Engine Company, Inc. in accordance
with their written offer heretofore approved by the Redevelopment Commission,_
NOW, THEREFORE, BE IT RESOLVED.by the South Bend Redevelopment Commission
that subject to the approval of the Regional Office of the Housing and Home
Finance Agency of Region 4, the assignment of Cummins Engine Company, Inc. to
South Bend Lathe, a division of Amsted Industries, Incorporated, for the
purchase of Parcel Number 6 described as follows:
Parcel No. 6 in the Inner Belt Industrial Park, a Subdivision in
the Southeast and Southwest Quarters of Section 11 and the Northeast
.Quarter of Section 14, all in Township 37 North, Range 2 East of the
Second Principal Meridian, City of South Bend, Indiana, the Plat of
which is recorded in Plat Book 21, Page I in the office of the Recorder. of-
St. J eph County, Indiana, and containing 42,826 square feet, more or less.
is hereby a proved and the Commission hereby further consents to the
assignment Df said described real estate from Cummins Engine Company, Inc., to
South Bend ache, a division of Amsted Industries, Inco-rporated, and the said
South Bend ledevelopment Commission hereby further releases Cummins Engine
Company, In of any further liability whatsoever under said Offer to Purchase
the above- scribed real estate now on file with said Commission.
BE IT IFURTHER RESOLVED that the President and Secretary of the South Bend
Redevelopment Commission are hereby authorized and directed to execute the
consent and approval of said assignment by Cummins Engine Company, Inc., to
South Bend Lathe, a division of Amsted Industries, Incorporated.
Adoptel this 21st day of October 1965.