HomeMy WebLinkAbout6.C.(6) Resolution No. 2510~~ L', ~~~
RESOLUTION NO. 2510
RESOLCTION APPROVING AND ACCEPTING A COCNTEROFFER
FOR TIIE ACQUISITION OE NROPERTY IV THE
AIRPOKT ECONOMIC DEVELOPMENT AREA
WHEREAS, under the authority granted by Indiana Code ~ 36-7-14, c~t .i~c~q. and
in furtha~ance of the Airport Economic Development Area De~~elopment Plan (the
"Plane). the South Fiend Rede~~clopmcnt Commission (the "Commission~~) has
determined that it is necessary to acquire unencumbered fee simple interest in certain
property located within the area heretofore designatai as the Airport Economic
Development Arca (the "Area°) within the City of South Bcnd, Indiana (the `Citt~~).
~~~hich property is more particularly described at Exhibit A attached hereto and
incorporated herein (the ~~Propert _. ): and
WkiEREAS. on October 3. ?008, the Commission adopted a Resolution setting
the oflering prig (the "Ollerin~~ Price~~) and authorizin~~ stai'i to present an oi~fer to Carlos
Arse Alvarez, as contract purchaser from REO Natiom,~idc, LLC, as o~~-ncr of the
Property (the "Owner") in an amount not to exceed the Offering Price along with the
payment of expenses incidental to the comcyance and determination of the title of the
Property; and
WHEREAS. the staff has presented the O~~~ner an offer t<~r the Offering Price as
authorized. ~~~hich the O~rncr rejected: and
WHEREAS. the O~~-ncr has pro~idcd a counteroffer to the Commission for
$ X6.000.00. which includes all expenses related to the acquisition: and
WHEREAS, the Commission desires to purchase the Property 1br SiG,000.00.
approve the 1<~rm 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, ~~~ith such changes in tin-m or in substance as the President and
Secretary may appro~°e: and
WHEREAS, the staff has re~~ie~~~cd the counterofla~ and determined that the
~n~oposal is reasonable in light of the appraisal amount and conditions in the area. and
WHEREAS, the Commission has completed its acquisition procedures 1br the
Property and sufiicicnt funds arc a~~ailable for the purchase of the Properly:
NO\~', T}IElZEFORE. BE IT RESOLVED by the South Bcnd Rcdcvclopmcnt
Commission that:
1. The Commission hereby finds that the consideration set t~~rth in the
Purchase Agreement is reasonable considering the circumstances and that it is in the best
interest of the citizens of the City and the South Bend Redevelopment District and
consistent ~~~ith the purposes and requirements set t<~rth in lndiana Code ~ ~6-7-14 to
accept the counta-offcr evidencai in the Purchase Agreement.
?. 'The Commission hereby approves and accepts the Purchase Agreement
and authorizes the President and the Secretary to execute and attest. respectively. the
Assi~~nment of [he Purchase Agreement and'or the P~nchaso Agreement ~~~ith such
changes in term or in substance as they deem to be necessary or appropriate to complete
the transfer. ~~~ ith such approval to be conclusively evidenced b_v such execution and
attestation. respectively. The President and'or Secretary arc each authorized to execute
and dcli~~cr any other documentation necessary to complete the acquisition of the
Pro~~erty. Legal counsel for the Commission is fw~ther authorized to close the transaction
on behalf of the Commission and execute any incidental closing documents necessa~}~ to
complete the transaction.
3. The Secretary of the Commission is insh~uctcd to place a copy of the
assignment and Purchase A<~reemcnt presented to the Commission ~~~ith this Resolution in
the records and minutes of this mectinL.
ADOPTED at a Regular Meeting of the South Bcnd Rcde~~elopment
Commission held on October ~. 2004, at 1 X04 County-City Building, 227 West Jeifcrson
&nalcv~ard, South Bcnd. Indiana 46601.
C[TY' OF SOUTH BE\D,
DEPARTl~~1ElS"T OF REDEVELOPMENT
s,e,~<,r„~~~
l'rinird Anrn~ <md lulr
South Bcud Rede~~clopment Commission
AT"TEST:
sn,~,~,~~„~<
l'rintrd Amnr anJ lNlr
South Bcnd Redevelopment Commission
F.XHIRIT A
Tax Ke~~ No.
18-3059-? ~ ;?
PROPERTY DESCRIPTIOV' AND OFFERI!~G PRICE
Address
O~~°ner ~ Counter Offer
1 1 13 Ford Strcct.
Carlos Arcc Al~~nrez,
as conh~act pwchascr
from REO
Nation~~~idc. LLC
536.000.00