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Community Investment
1865
Memorandum
December 12, 2013
TO: South Bend Redevelopment Commission
FROM: David Relos, Economic Resources.
SUBJECT: Resolution No. 3185
Hotel La Salle Release of Commercial Purchase Agreement
This staff report is for approval to release the Purchase Agreement (Agreement) with
Mavcon Properties, which was approved on June 14, 2011, and recorded on June 27,
2011. This Agreement was for the possible purchase and rehabilitation of the Hotel La
Salle, and allowed Mavcon two 180 day inspection periods to hire architectural,
engineering, and environmental consultants, as well as to put together a funding
package utilizing Historic and New Market Tax Credits. On July 12, 2012, an additional
60 day extension was granted.
According to the Agreement, Mavcon deposited $4,000 for their two 180 day inspection
periods, which per the Agreement were to be non - refundable if Mavcon did not move
forward after the first inspection period. Because both parties worked diligently during
and after the inspection periods, the return of the $4,000 deposit was approved on
December 4, 2012.
Because the Agreement was recorded, it must now be released. Resolution No. 3185
allows staff to move forward with a Release of Commercial Purchase Agreement, which
when signed by both parties, will be recorded and release the original Agreement.
Staff requests approval of Resolution No. 3185.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574- 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV
RESOLUTION NO. 3185
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPOINTING AUTHORIZED REPRESENTATIVES TO APPROVE AND EXECUTE
DOCUMENTS RELATED TO THE LASALLE HOTEL ON BEHALF OF THE CITY OF
SOUTH BEND, INDIANA, DEPARTMENT OF REDEVELOPMENT
WHEREAS, the South Bend Redevelopment Commission (the "Commission ") is the
governing body of the City of South Bend Department of Redevelopment (the "Department ")
established under the Redevelopment of Cities and Towns Act of 1953, as amended, being
Indiana Code § 36- 7 -14 -1 et seq. (the "Act "); and
WHEREAS, the Department owns, leases and manages the LaSalle Hotel located in the
City of South Bend and more particularly described as Lots numbered one (1), two (2) and three
(3) as lots are known and designated in the recorded plat of the original town, now City of South
Bend, in the Recorder's Office of St. Joseph County, Indiana; and
WHEREAS, the Commission entered into that certain Commercial Purchase Agreement
(the "Agreement ") by and between MAVCON Properties, LLC ( "MAVCON ") and the
Commission, recorded on June 27, 2011, as Instrument No. 1116415 in the Office of the
Recorder of Saint Joseph County, Indiana; and
WHEREAS, the Commission and MAVCON agreed to terminate the Agreement and on
January 24, 2013, the Commission authorized the return to MAVCON of the sum of $4,000.00
representing the amount on deposit with the Commission tendered by MAVCON; and
WHEREAS, the recorded Agreement should now be released; and
WHEREAS, the Department is a part of the South Bend Department of Community
Investment and employs staff members who are familiar with the property owned by the
Department; and
WHEREAS, the Commission desires to expressly authorize the staff members of the
Department to execute such documents as necessary, on advice of counsel, to release the
Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND
REDEVELOPMENT COMMISSION AS FOLLOWS:
1. The following staff members:
Christian Fielding
Brock Zeeb
David Relos
or their successors (the "Authorized Representative ") are hereby authorized to execute such
documents as necessary, on advice of counsel, to release the Agreement on behalf of the
Commission.
2. The authority granted under this Resolution expires on December 31, 2014.
3. This Resolution shall be in full force and effect after its adoption.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
December 12, 2013, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
Signature
Printed Name and j it e
South Bend Redevelopment Commission
CITY OF SOUTH BEND,
DEPARTMENT OF REDEVELOPMENT
Signature
Printed Name and Title
South Bend Redevelopment Commission
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