HomeMy WebLinkAbout1991-10-18 Resolution 4343
RESOLUTION
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A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY
APPROVING AND CONSENTING TO THE SUB-LEASE OF REAL PROPERTY
BY THE CITY OF SOUTH BEND, INDIANA TO THE
HOUSING DEVELOPMENT CORPORATION OF ST. JOSEPH COUNTY, INC.
WHEREAS, the. South Bend Redevelopment Authority (hereinafter
referred to as the "Authority") is Lessor and the City of South Bend,
Indiana, on behalf of its Department of Redevelopment, and acting by
and through the South Bend Redevelopment Commission (hereinafer
referred to as the "Commission") is Lessee by virtue of a certain
Lease Agreement between the Commission and the Authority dated as of
August 1, 1990, as restated and amended, of certain real property
situated in the Monroe Park Development Area, being more commonly
known as:
1. 609 S. Columbia
2. 618 Lincolnway East
3. 620-622 Lincolnway East
4. 626 Lincolnway East
5. 514 Rush
6. 620 Columbia
7. 310 E. South Street
8. 312 E. South Street
9. 602 S. .Carroll (hereinafter,
as the "Real Property"; and
collectively referred to
WHEREAS, by virtue of certain Sub-Leases between the
Commission and the City of South Bend, Indiana, acting by and through
its Board of Public Works, dated April 15, 1991, April 29, 1991 and
August 26, 1991, as restated and amended (hereinafter referred to as
the "Sub-Leases"), the Commission sub-leased the Real Property to the
City of South Bend, and the City of South Bend sub-leased the Real
Property from the Commission; and
WHEREAS, the City of South Bend, Indiana, acting by and
through its Board of Public Works has determined it to be in the best
interest of the City of South Bend, and in furtherance of the
Commission's plan for the redevelopment of Monroe Park, to
sub-sub-lease the Real Property to the Housing Development
Corporation of St. Joseph County, Inc. (hereinafter referred to as
the "HDC") for restoration and rehabilitation as affordable housing;
and
WHEREAS, the HDC has represented to the City of South Bend
that the HDC is an Indiana not-for-profit corporation organized for
educational, literary, scientific, religious, or charitable purposes
that is exempt from federal taxation under Section 501 of the
Internal Revenue Code; and
• WHEREAS, the City of South Bend, through its Board of Public
Works, has determined that it may sub-lease the Real Property to the
HDC pursuant to I.C. 36-1-11-1(a)(7), and has approved and authorized
the execution of a Sub-Lease Agreement between the City of South Bend
and the HDC concerning the Real Property, a copy of which is attached
hereto and made a part hereof; and
WHEREAS, pursuant to the Sub-Leases, the City of South Bend
may transfer an interest in the Real Property only upon the consent
of the Authority; and
WHEREAS, the Authority has reviewed said Sub-Lease Agreement
and finds it to be reasonable in its terms, finds it to protect,
adequately, the interest of the Authority, and finds it to be in the
best interests of the Authority that said Sub-Lease Agreement be
approved.
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NOW, THEREFORE, BE LT RESOLVED BY THE SOUTH BEND
REDEVELOPMENT AUTHORITY AS FOLLOWS:
• 1. That the South Bend Redevelopment Authority shall and
hereby does approve of and consent to the sub-lease by the City of
South Bend, Indiana, acting by and through its Board of Public Works
to the Housing Development Corporation of St. Joseph County, Inc.,
the real property commonly known as:
1. 609 S. Columbia
2. 618 Lincolnway East
3. 620-622 Lincolnway East
4. 626 Lincolnway East
5. 514 Rush
6. 620 Columbia
7. 310 E. South Street
8. 312 E. South Street
9. 602 S. Carroll
and being more particularly described at Exhibit "A" of of the
Sub-Lease Agreement attached hereto, pursuant to the terms and
conditions. of said Sub-Lease Agreement.
2. That this resolution shall be in full force and effect
from and after its adoption.
Adopted at the special meeting of the South Bend
Redevelopment Commission held ~-~~~~ /~' 1991 at 1200
• County-City Building South Bend, Indiana 46601.
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SOUTH BEND REDEVELOPMENT AUTHORITY
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A EST:
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Secretary
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