HomeMy WebLinkAbout1993-08-19 Resolution 82??uS{JLTJTION NUJ. 82
?~ FESCLTJTION OF THE S^UTH BEND REDEVELOPi='iENT
AUTHOFITY APPROVING THE TRANSFER OF REAL
PROPERTY IN THE AIRPORT ECONOMIC DEVELOPMENT AREA
WHEREAS, the South Bend Redevelopment Authority (the
"Authority") is the owner of certain real property located in the
Airport Economic:Development Area and more particularly described
at Exhibit "A" hereto (the "Lease Parcel"); and
WHEREAS, the Authority is also the owner of certain real
property .located in the Airport Economic Development Area,
adjacent to the Leased Parcel, and more particularly described at
Exhibit "B" hereto (the "Sale. Parcel"); and
WHEREAS, the Sale Parcel. is adjacent to certain real
property owned and developed by Gainey Realty and Investment
Corporation ("Gainey Site"); and
WHEREAS, the South Bend Redevelopment Commission.. is leasing
the Lease Parcel from the Authority and is subleasing the Lease
Parcel to Gainey Realty and Investment Corporation.("Gainey");
and
WHEREAS, the Sale Parcel separates. the Lease Parcel from the
Gainey Site; and
WHEREAS, Gainey desires to improve the Gainey Site and the
Lease Parcel by constructing certain improvements upon the Gainey
Site; but
WHEREAS,. the. improvements, as proposed, encroach onto the
Sale Parcel; and
WHEREAS, Gainey wishes to acquire the Sale Parcel in order
to allow for the proposed improvements to the constructed; and
WHEREAS, the Authority desires that the improvements be
constructed in order to facilitate Gainey's development of the.
Lease Parcel, as well as the development of the Gainey Site; and
WHEREAS, the Authority has no need for the Sale Parcel; and
WHEREAS, the South Bend Redevelopment Commission. previously
offered the Sale Parcel and Lease Parcel for disposition and,
receiving no bid at the minimum offering price, accepted the bid
of Gainey to lease-purchase the Sale Parcel .and Lease Parcel; but
- WHEREAS, for the reasons cited above, Gainey desires. to
acquire fee title to the Sale Parcel and not merely a lease-hold
interest in the Sale Parcel; and
WHEREAS, the consideration in the form
payments received by:the Commission for the
Parcel and Lease Parcel is herehy deemed by
adequate consideration to the Authority for
Parcel to Gainey insofar as the Sale Parcel
to any party but Gainey; and
of prepaid lease.
lease of the Sale
the Authority to be
the sale of the Sale
is of no use or value
WHEREAS, development of the Sale Parcel as proposed by
Gainey is in furtherance of the efforts and goals of-the
Authority in the Airport Economic Development Area, which is of a
value to the Authority at least as great as the fair market value
of the Sale Parcel.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND
REDEVELOPMEN'T` AUTHORITY AS FOLLOWS:
1. That the transfer of the Sale Parcel to Gainey, in
consideration of;~'the prepayment of certain lease payments by
Gainey to the South. Bend Redevelopment Commission pursuant to the
lease between- Gainey and the Co~nrci:~sion dated as of February 2,
1993, shall be and hereby is approved.
2. That the president and secretary of the Authority are
hereby authorized and directed to exec~:te and attest to the
execution of, respectively, a quit claim deed transferring to
Gainey all of the Authority's right, title, and interest in and
to the Sale Parcel.
3. This resolution shall be in full force and effect after
its adoption by the Authority.
ADOPTED at a meeting of the South Bend Redevelopment
Authority held on August-19,.1993, at 1308 County-City Building,
22? West Jefferson Boulevard, South Bend, Indiana 46601
SOUTS~ BEND REDEVELOPMENT AUTHORITY
B
Jo ph ablewski, President
AT ST:
~~
-~ Donald K> Fewell; Secretary
RESOD GAII3EY
r ~
~_I
• EXHIBIT "A" - LEASE PARCEL
A parcel of land in the Southeast Quarter of Section 21,
Township 38 North, Range 2 East, German Township, St. Joseph
County, Indiana, and described as follows:
Commencing at the Northeast corner of the Southeast Quarter
of said Section 21; thence South O1°00.'44" East along the East
line of said Section 21, 186.55 feet to the place of beginning;
thence continuing_South 01°0.0'44".East,. along-said East line
420.83 feet to the Northeast corner of Lot 20A of Gainey's Replat
as recorded under. Instrument Number 9029253 on October. l9, 1990,
in the office ,of the Recorder, St. Joseph County, Indiana; thence
South 88°53'56" West, along the North line of said Lat 20A,
930.47 feet;.. thence North 00°56'57" West., 420..83 feet,• thence
North 8.8°53'56" East, 930.01 feet to the place of beginning, and
containing 8.9874 acres, more or less, and being subject to any
easements, restrictions. and or covenants of record.
EXCEPTING THEREFROM:
A parcel of land in the southeast quarter of Section 21,
Township 38 North, Range 2 East, of the Second Principal
meridian, German Township,.St. Joseph County, Indiana, and
described as follows:
.Commencing from the northeast corner of the southeast.
quarter of Section 21, Township 38 North,. Range 2 East; thence
South 01°00'44" East {bearing derived from recorded plat) along
the East line of the Southeast Quarter of said Section 21, 482.38
feet to the point of beginning;. thence continuing South 01°00'.44"
East along the. said East line,. 125.00 feet; thence south
88°53'36" West,.. 930.47 feet; thence North 00°56.'57" West, 125.00
feet; thence North 88°.53.'36" East, 930.33 feet to the point of
beginning, and containing 2.67 acres, more or less, and is
subject. to easements, restrictions and or covenants of record.
Being the North 295.8.3 feet of Lot 20-B. of the lst Replat of
Gainey's Replat of Lot 18-B and 20-A, as recorded under Document
Number 9305368 dated February 18, 1993 in the Office of the
Recorder of St. Joseph County, Indiana.
EXHIBIT "B" - SALE PARCEL
A parcel of land, in the Southeast Quarter of Section 21,
Township 38 North, Range 2 East, German Township, St. Joseph
County, Indiana, and described as follows:
Commencing at the Northeast corner of the .Southeast Quarter
of said Section 21; thence South 01°.00'44" East along the East
line of, said Section 21, 186.55 feet to the place of beginning;
thence continuing South 01°00'44" East, along said East line
420.83 feet to the Northeast corner of Lot 20A of Gainey's Replat
as recorded under Instrument Number 9029253 on October 19, 1990,
in the Office of the Recorder, St. Joseph County., Indiana; thence
South 88°53'56" West.,. along the. North line of said Lot 20A,
930.47 feet; thence North 00°56'57" West, 420.83 feet; thence
North 88°53'56" East, 930.01 feet to the place of beginning, and
containing 8.9874 acres, more or less,. and being subject ~o any
easements, restrictions. and ar covenants of record.
Being the North 420.83 feet of Lot 20-B of the 1st Replat of
Gainey's Replat of Lot 18-B and 20-A, as recorded under Document
Number 9.305368, dated .February 18, 1993 in the office of the
Recorder of St, Joseph County, Indiana.
C7
•