HomeMy WebLinkAbout2002-12-04 Resolution 148.'~
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RESOLUTION NO. 1~a$
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY
APPROVING THE EXECUTION OF A RESOLUTION APPROVING THE TRANSFER
OF REAL PROPERTY TO THE SOUTH BEND REDEVELOPMENT COMMISSION
AND OTHER RELATED DOCUMENTS ASSOCIATED WITH SOUTH BEND
CHOCOLATE COMPANY EXPANSION PROJECT
WHEREAS, the South Bend Redevelopment Authority ("Authority") is the issuer of certain
lease rental revenue bonds pursuant to a Trust Agreement between the South Bend Redevelopment
Authority and Wells Fargo Bank, Indiana, N.A., dated November 1, 2000 ("Trust Agreement")
related to the financing of the College Football Hall of Fame; and
WHEREAS, the South Bend Redevelopment Commission ("Commission") is the owner of
property and improvements adjacent to the College Football Hall of Fame and more specifically
located at 122 South Michigan Street ("CCA Building");
WHEREAS, the Commission leases the CCA Building to the South Bend Chocolate
Company ("SBCC") under a long term lease; and
WHEREAS, SBCC operates a retail establishment and cafe on the first floor of the CCA
Building and desires to expand its operations ("Project") into an area situated between the CCA
Building and the College Football Hall of Fame and used by the College Football Hall of Fame for
parking ("Property"); and
WHEREAS, the Authorityhaspreviouslygranted toCommission anon-buildable perpetual
easement ("Easement Agreement") related to the Commission and its tenant's use of the Property
that abuts the CCA Building; and
WHEREAS, the Trust Agreement and Easement Agreement impose certain restrictions on
the use and transfer of property associated with the College Football Hall of Fame including, but not
limited to, the use and transfer of the Property; and
WHEREAS, upon determination and advice of legal counsel that such action will not
interfere with the operation of the College Football Hall of Fame and/or otherwise violate the Trust
Agreement, the Authority wishes to facilitate the Project by transferring the Property to the
Commission for lease to SBCC; and
WHEREAS, the Authority recognizes that time of the essence in order to accomplish certain
actions relating to the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND
REDEVELOPMENT AUTHORITY AS FOLLOWS:
The Authority hereby approves and endorses the Project as described herein.
2. Upon a determination by legal counsel that such actions will not interfere with the
operation of the College Football Hall of Fame and/or otherwise violate the Trust
Agreement, the Authority hereby directs and authorizes legal counsel to prepare the
necessary resolution effecting a transfer of the Property to the Redevelopment Commission
for use by the Commission to facilitate the Project as described herein.
3. Upon a determination by legal counsel that such actions will not interfere with the
operation of the College Football Hall of Fame and/or otherwise violate the Trust
Agreement, the Authority hereby directs and authorizes the execution and attestation by the
Authority of the transfer resolution and any other necessary documents as described in this
Resolution and as presented at this meeting with such changes as maybe suggested by legal
counsel and approved by the President and Vice President or Secretary with such approval
evidenced by the execution and attestation respectfully, thereof.
4. The Authority hereby authorizes the President of the Authority to execute and the
Vice President or Secretary to attest to any and all other documents relating to this Project
and to effect the closing of said Project upon the advice of legal counsel.
5. This Resolution shall be in full force and effect from the and after its passage by the
Authority.
ADOPTED at a meeting of the South Bend Redevelopment Authority, held on December
4, 2002, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601
SOUTH BEND REDEVELOPMENT AUTHORITY
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