HomeMy WebLinkAbout6.C.(2) Resolution No. 2500~.C, C2~
RESOLUTION NO. 2500
RESOLUTION APPROVING AND ACCEPTING A COUNTF,ROFFER
FOR THE ACQUISITION OF PROPERTY IN THE
AIRPORT ECONOMIC DEVELOPMENT AREA
WHEREAS, under the authority granted by Indiana Code § 36-7-14, et se y. and
in furtherance of the Airport Economic Development Area Development Plan (the
`'Plan"), the South Bend Redevelopment Commission (the `Commission") has
determined that it is necessary to acquire unencumbered fee simple interest in certain
property located within the area heretofore designated as the Airport Economic
Development Area (the "Area") within the City of South Bcnd, Indiana (the `°City"),
which property is more particularly described at Exhibit A attached hereto and
incorporated herein (the "Property"); and
WHEREAS, on September 5, 2008, the Commission adopted a Resolution
setting the offering price (the "Offering Price") and authorizing staff to present an offer to
Terrance J. Findley, Jr., as owner of the Property (the "Owner") in an amount not to
exceed the Offering Price along with the payment of expenses incidental to the
conveyance and determination of the title of the Property; and
WIIEREAS, the staff has presented the Owner an offer for the Offering Price as
authorized, which the Owner rejected; and
WHEREAS, the Owner has provided a counteroffer to the Commission for
$46,000.00, which includes all expenses related to the acquisition; and
WHEREAS, the Commission desires to purchase the Property for $46,000.00,
approve the form of Purchase Agreement, and authorize the President and Secretary of
the Commission to execute and attest, respectively, the Purchase Agreement on behalf of
the Commission, with such changes in form or in substance as the President and
Secretary may approve; and
WHEREAS, the staff has reviewed the counteroffer and determined that the
proposal is reasonable in light of the appraisal amount, and conditions in the area, and
WHEREAS. the Commission has completed its acquisition procedures for the
Properly and sufficient funds are available for the purchase of the Property;
NOW, "THEREFORE, BE I"I' RESOLVED by the South Bend Redevelopment
Commission that:
1. The Commission hercbv finds that the consideration set forth in the
Purchase Agreement is reasonable considering the cirewnstances and that it is in the best
interest of the citizens of the City and the South Bcnd Redevelopment District and
consistent with the purposes and requirements set forth in Indiana Code ~ 36-7-14 to
accept the counteroffer evidenced in the Purchase Agreement.
2. "1'he Commission hereby approves and accepts the Purchase Agreement
and authorizes the President and the Secretary to execute and attest, respectively, the
Assignment of the Purchase Agreement and/or the Purchase Agreement with such
changes in form or in substance as they deem to be necessary or appropriate to complete
the transfer, with such approval to be conclusively evidenced by such execution and
attestation, respectively. The President and/or Secretary are each authorized to execute
and deliver any other documentation necessary to complete the acquisition of the
Property. Legal counsel for the Commission is further authorized to close the transaction
on behalf of the Commission and execute any incidental closing documents necessary to
complete the transaction.
3. The Secretary of the Commission is instructed to place a copy of the
assignment and Purchase Agreement presented to the Commission with this Resolution in
the records and minutes of this meeting.
ADOPTED at a Regular Meeting of the South Bend Redevelopment
Commission held on September 5, 2008, at 1308 County-City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND,
DEPARTMENT OF REllEVELOPMENT
Prmlec :A'crnve cux l~il e
ATTEST:
South Bend Redevelopment Commission
Prlnte~ Acme aac l'il e
South Bend Redevelopment Commission
EXHIBIT A
PROPERTY DESCRIPTION AND PURCHASE PRICE
Counter Offer
Tax Key No. Address Owner
Purchase Price
Terrance J. Findley,
18-3059-2321 1105 Grace Street. $46,000.00
Jr.
PURCHASE, AGREEMENT
By and Bctwecn
South I3end Redevelopment Commission
Terrance J. Findley, Jr.
September 5, 2008
THIS PURCHASE AGREEMENT (this "Agreement"), dated as of the 5°i day of
September, 2008, is made and entered into between the South Bend Redevelopment
Commission, for and on behalf of the City of South Bend, Department of Redevelopment (the
'`City") and Terrance J. Findley, Jr., as owner (the "Owner").
RECf1,ALS
WHEREAS, the City desires to acquire a parcel of real property, including all
improvements thereon, currently owned by the Owner, for the redevelopment purposes of the
City, which parcel is more particularly described at Exhibit A (the "Property"); and
WHEREAS, the Property is within the boundaries of the City, the South Bend
Redevelopment District, and the Airport Economic Development Area; and
WHEREAS, the City has completed its acquisition procedures for the Property and has
appropriated funds for the purchase of the Property; and
WHEREAS, the City has presented the Owner an initial offer for the average of the two
(2) appraisals obtained by the City for the Property, and the Owner rejected said offer; and
WIfEREAS, the Owner obtained an appraisal for the Property evidencing a value of
Forty Four Thousand and 00/100 Dollars ($44,000.00), and of recent improvements to the house
of Five Thousand Four Hundred and 00/100 Dollars ($5,400) which amount is approximately
Seven Thousand Six Hundred Fifty and 00/100 Dollars ($7,650.00) more than the City's initial
offer, and has provided the City a counteroffer of forty Six Thousand and 00/100 Dollars
(546,000.00), in accordance with his appraisal and verification of Home Improvement Loan; and
WHEREAS, the City desires to accept the Owner's counteroffer and the parties desire to
complete the transaction pursuant to the terms and conditions set forth in this agreement.
NOW, THEREFORE, the Parties hereby agree and represent as follows:
1. The Owner hereby agrees to sell the Property to the City for Forty Six Thousand
and 00/100 Dollars ($46,000.00) (the "Purchase Price"), subject to the following terms:
(a) The City and the Owner shall close the transaction on a date (the "Closing
Date") that is no later than ninety (90) days of the date of this Agreement at
Meridian Title Company, South Bend, Indiana 46601 (the "Title Company')
or on such date and time or at such place as mutually agreed upon by the
parties provided that such closing shall occur no later than December 31,
2008.
(b) The Owner shall continue to own and use the Property until the Closing Date
and hereby co~~enants that the Owner will not alter the condition of the
Property. Additionally, the Owner may not release any substances, hazardous
or otherwise on or near the Property, or accumulate any other materials,
goods, refuse or debris on or near the Property. The Owner further may not
salvage or remove any fixtures or systems from the Property, unless
specifically authorized by the City in writing. If the Owner takes any action
in violation of this subsection (b), at closing the City may withhold a portion
of the Purchase Price to pay for any repairs or clean up necessary to restore
the Property to its condition as of the date of this Agreement. The Owner
shall be entitled to remove all of their personal property and appliances in an
orderly manner consistent with all applicable law and regulations up to and
wail the Closing Date.
(c) At closing, the Owner shall dcli~~er to the City a warranty decd in the form
attached hereto as Exhibit B providing for the conveyance of the Property free
and clear of all liens, mortgages and encumbrances. If necessary, the sale
proceeds shall be applied to satisfy any mortgages, encumbrances, or due and
owing taxes remaining on the Property as of the Closing Date. all taxes
accrued on the Property prior to closing shall be the sole responsibility of the
Owner and an estimated amount of the duc and owing and accrued taxes shall
be withheld from the sale proceeds.
2. The City shall be responsible for the retarding costs and any other similar closing
costs.
3. The parties each represent that no real estate commissions arc duc and owing to
any party with respect to this transaction.
4. fhe Owner represents that there are no hazardous substances on the Property and
agrees to indemnify the City for all costs (including all collection costs and
attorney's fees) to the extent any such substances exist on the Property as of the
Closing Date and the City has to remediate, remove or is otherwise responsible
for such remediation or removal of any such substance on or near Property.
5. "The Owner acknowledges that he has conducted his own due diligence and
acknowledges that the Purchase Price is fair and reasonable and waives any right
that he may have to an appraisal or to contest or challenge the validity of
compensation received under this Agreement.
6. This Agreement embodies the entire agreement between the parties and cannot be
varied except by the ~~~rittcn agreement of the parties. No representation, promise,
or inducement not included in this Agreement shall be binding upon the parties
hereto.
7. All the terms and conditions of this Agreement arc hereby made binding on the
successors and permitted assigns of both parties hereto.
8. This Agreement shall be governed by and construed in accordance with the laws
of the State of Indiana and venue for any action shall be St. Joseph County,
Indiana.
9. "phis Agreement shall not be effective or binding until fully executed by the
parties hereto. This Agreement may be executed in multiple counterparts each of
which shall be considered an original and collectively shall form one agreement.
10. This Agreement shall survive closing.
] 1. If any provision of this Agreement is held by a court of competent jurisdiction to
be invalid, void or unenforceable, the remainder of the provisions of this
Agreement shall remain in full force and effect and shall in no way be affected,
impaired or invalidated.
12. L;ach party shall execute and deliver to the other all such other further instruments
and documents as may be reasonably necessary to accomplish the actions
contemplated by this Agreement and to provide and secure to the other party the
full and complete enjoyment of its rights and privileges hereunder.
13. This Agreement was negotiated by the parties at arm's length and each of the
parties hereto has reviewed this Agreement after the opportunity to consult with
independent counsel. Neither party shall maintain that the language in this
Agreement shall be construed against any signatory hereto.
14. Words of any gender used in this Agreement shall be held and construed to
include any other gender, and words in the singular number shall be held to
include the plural, and vice versa, unless the context requires otherwise.
1 ~. The undersigned persons executing and delivering this Agreement on behalf of
each of the parties respectively represent and certify that they are duly authorized
and are fully empowered to execute and deliver this Agreement and that all
necessary action has been taken and done.
(Re~r~aincler of~pnge intentionally left blank)
CITY OF SOUTH BEND,
llEPARTMENT OF REDEVELOPMENT
Primer rl'ane nnc Tfl e
South Bend Redevelopmcnt Commission
ATTEST:
Prin/e~'ame an 7~i~ e
South Bcnd Redevelopment Commission
"Terrance J. Findley, Jr.
EXHIBIT A
Leeal Description of the Property
Lot Numbered Nineteen (19) as shown on Dunns proposed Subdivision of Bank
Out Lot Numbered 93 more accurately described as follows: Apart of Bank Out
Lot Numbered Ninety-three (93) of the Second Plat of Out Lots of the Town,
Now the City of South Bend, platted by the State Bank of Indiana, which said part
is bounded by a line running as follows, viz: Beginning on the North line of
Grace Street in said City of a point 200 feet East of the East line of Arnold Street
in said City; thence running North 7 rods to the South line of a public alley;
thence East on the South line of said alley 40 feet; thence South 7 rods to the
North line of said Grace Street; thence West 40 feet to the place of beginning.
Common Address: 1105 Grace Street, South Bend, Indiana 46619
Tax Kcy No. 18-3059-2321
EXH[13IT B
Porm of Warranty- Dced
WARRANTY DEED
TI lIS INDENTURE: WI'I~NESSETH, TI IAT Terrance J. Findley, Jr., of St Joseph County, in the State of
Indiana,
CONVEYS AND WARRANTS TO THE CI"I~Y OF SOUTI I BEND, STATE OF INDIANA
for the use and benefit of its Deparlmcnt of Redevelopment, 227 W. Jefferson Boulevard, Suite 1200,
South Bend, Indiana, for and in consideration of one dollar ($1.00) and other good and valuable
consideration, the receipt whereof is hereby acknowledged, the following described real estate in St.
Joseph County, Indiana, to-wit:
Exhibit "A" attached hereto and made a part hereof
Grantor herein agrees to pay all real estate taxes and assessments levied or assessed against the above-
designated real estate prior to the date of this deed.
Grantor hereby conveys the above-described real estate free and clear of all leases, licenses, or other
interests, both legal and equitable, and all encumbrances of any kind or character.
I~his document shall constitute a conveyance of the above-described real estate in tee simple, and no
reversionary rights whatsoever arc intended to remain in the Grantor.
The undersigned persons executing this Warranty Decd represent and certify that each are competent and
fully empowered to execute and deliver this deed and in doing so are not violating any other agreement
for which tither is a party; that the Grantor has full legal capacity to convey the real estate described; and
that all necessary action necessary to complete this conveyance on their behalf has been duly taken.
Dated this day of , 2008.
Pace 1 of 2
ferrancc J. Findley, Jr.
S"FATE OF INDIANA )
SS:
ST. JOSEPEI COUNTY )
Before me, the undersigned, a Notary Public for and in said County and State this day of
2008, personally appeared "l~errance J. Findley, Jr., and acknowledged execution of the
foregoing Warranty Dced.
IN WITNESS WHGREOI', I have hereunto subscribed my name and a~rxed my official seal.
(SEAL)
Commission expires:
Notary Public
Resident oCthe St. Joseph County, Indiana
1 affirm, under the penalties for perjury, that I have taken reasonable care to react each Social Security
number in this document, unless required by law, Lawrence J. Meteiver
Prepared by Lawrence J. Meteiver, Assistant City Attorney, 1400 County-City Building, 227 W.
Jefferson Blvd., South Bend, Indiana 46601, (574) 235-9294.
Page 2 oC2
F.XNIRIT A
Legal Description oCthe Property
Lot Numbered Nineteen (19) as shown on Dunns proposed Subdivision of Bank
Out Lot Numbered 93 more accurately described as follows: Apart of Bank Out
Lot Numbered Ninety-three (93) of the Second Plat of Out Lots of the Town,
Now the City of South Bend, platted by the State Bank of Indiana, which said part
is bounded by a lint running as follows, viz: Beginning on the North line of
Urace Street in said City of a point 200 feet East of the East line of Arnold Street
in said City; thence running North 7 rods to the South line of a public alley;
thence Fast on the South line of said alley 40 feet; thence South 7 rods to the
North line of said Grace Street; thence West 40 feet to the place of beginning.
Common Address: 1 105 Grace Street, South Bend, Indiana 46619
Tax Kcy No. 18-3059-2321