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Investment
Memorandum
February 13, 2014
TO: South Bend Redevelopment Commission
FROM: David Relos, Economic Resources 6?91 '
SUBJECT: Resolution No. 3206 — March 2014 County Commissioner Tax Sale
Over the past few years the Commission has approved the addition of various
properties to the acquisition list of the Airport Economic Development Area.
At the upcoming St. Joseph County Commissioner's March 2014 tax sale, one property
added is expected to be among those offered. Staff believes purchasing this property
from the tax sale will allow for lower costs in the acquisition process.
This property has gone through the acquisition process, with the Commission approving
an acquisition price.
Since this property is on the acquisition list and has an approved price for its acquisition,
staff requests approval of Resolution No. 3206, to take the necessary steps to register
and bid on this parcel up to the approved price.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV
RESOLUTION NO. 3206
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
RELATED TO ACQUISITION OF PROPERTY
WHEREAS, under the authority granted by Indiana Code § 36 -7 -14, et seq. and
in furtherance of the Airport Economic Development Area Plan ( "Plan "), the South Bend
Redevelopment Commission ( "Commission ") has determined that it is necessary to
acquire unencumbered fee simple interest in certain properties located within the area
heretofore designated as the Airport Economic Development Area (the "Area ") within
the City of South Bend, Indiana (the "City "); and
WHEREAS, the Commission has added certain properties to the Acquisition
List by amending the Plan and adding those properties to the Area's acquisition list (the
"Acquisition Properties "); and
WHEREAS, certain Acquisition Properties have been certified to St. Joseph
County's March 2014 Commissioner tax sale list, and will be available for purchase at
said tax sale or a subsequent tax sale or auditor's sale; and
WHEREAS, appraisals of the Acquisition Properties would indicate that an
offering price previously established by the Commission for each of the Acquisition
Properties (the "Offering Price ") is reasonable and in accordance with § 36- 7- 14- 19(b);
and
WHEREAS, the Commission now desires to authorize its authorized agents,
hired for such purposes, or the staff of the Commission to register for and bid upon any
Acquisition Properties offered at Tax Sale provided that such bids not exceed the
previously approved Offering Price for each Property; and
WHEREAS, the Commission finds that all procedures necessary for
authorizing and acquiring the Acquisition Properties has been completed in accordance
with Indiana law;
NOW, THEREFORE, BE IT RESOLVED by the South Bend
Redevelopment Commission that:
1. Authorized agents of the Commission and the staff of the Commission are
hereby authorized and directed to register for and bid upon each of the Tax Sale
Certificates for any appropriate Acquisition Property.
2. The Commission's agents and attorneys are hereby authorized and
directed to take all steps necessary to accomplish the acquisition of the Properties at Tax
Sale provided that such bids not exceed the previously approved Acquisition Price for
each Property and that such bids are otherwise made in accordance with this Resolution
and in a manner acceptable to the Director of Economic Resources and legal counsel.
3. Brock Zeeb or Scott Ford is authorized to execute on behalf of the
Commission any documents necessary to carry out the intent of this Resolution.
ADOPTED at a Regular Meeting of the South Bend Redevelopment
Commission held on February 13, 2014, at 1308 County -City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND,
DEPARTMENT OF REDEVELOPMENT
Printed Name and Title
South Bend Redevelopment Commission
ATTEST:
Signature
Printed ame and Title
South Bend Redevelopment Commission