HomeMy WebLinkAbout6.C.(8) Resolution No. 2512(~ C C -~ ,
RESOLt;T10N NO. 2512
KESOLUTION APPROVING ANU ACCEPTING A COt;NTEROFF'F.R
FOR THE ACQUISITION OF PROPERTY IN THE
AIRPORT ECONOMIC DEVELOPMENT AREA
WHEREAS. under the; authority granted by Indiana Code ~ 3G-7-14, e~~ sc°y. and
in furtherance of the Airport Economic Development Area Development Plan (the
~~Plan°). the South Bend Redevelopment Commission (the "C'onunission~~) has
determined that it is necessary to acquire unencumbered tee simple interest in certain
property located ~~~ithin the area heretofore designated as the Airport Economic
Development Area (the °Arca~~) .within the City of South Bcnd. Indiana (the "Cit~'~).
~a~hich property is more particularly described at Exhibit A attached hereto and
incorporated herein (the ~~Propert~''); and
WHEREAS. on October ~_ ?008. the Conui~ission adopted a Resolution setting
the o~terin~~ price (the `O1~lcrin~~ Price~~) and ~iuthorizin~~ staff to present an offer to ulaiy
E. Lcl3old. as Pol,~~cr of Attorocy for Barbara L. Andrews, as owner of the Property (the
"O~~ner ~) in an amount not to exceed the Offering Price along «~ith the payment of
expenses incidental to the com~cvance and determination of the title of the Property; and
WHEREAS, the staff has presented the O~a~na~ an oficr for the Offering Price as
authorized, ~~~hich the O~~~ncr re,jcctcd: and
\VHF_REAS. the Owner has provided a counteroffer to the Commission for
537,900.00. ~a~hich includes all expenses related to the acquisition: and
WHEREAS. the Commission desires to purchase the Property for 537,900.OQ
approve the Corm of Purchase Agreement and authorize the President and Secretary of
the Commission to execute and attest. respectively, the Purchase Agreement on behalf oh
the Conunission, with such changes in tone or in substance as the President and
Secretary may approve: and
WHEREAS. the staff has revie~~ed the counteroftcr 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
Property and sufficient funds are mailable for the pw-chase of the Property;
NOW, ~fHEREFORE. BE IT RESOLVED by the South Bend Rede~~elopment
Commission that:
L The Commission hereby finds that the consideration set forth 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 with the purposes and requirements set forth in Indiana Code ~ 36-7 -14 to
accept the counteroftcr e~°idenced in the Purchase Agreement.
?. The Commission hereby approves and accepts the Pw~chase Agreement
and authorizes the President and the Secretarv t~~ 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 transfa~. with such approval to be conclusively evidenced by such execution and
attestation. respecti~~cly. The President and/or Secretary arc each authorized to execute
and dcli~°er anv other documentation necessary to complete the acquisition of the
Property. Legal counsel i~~r the Commission is fwther authorized to close the transaction
on behalf of the Commission and execute anv incidental closing documents necessary to
complete the h~anszction.
i. The Secretary of the Commission is instructed to place a copy of the
assignment and Purchase A~arecment presented to the Commission ~~~ith this Resolution in
the records and minutes of this meeting.
4DOPTED at a Regular Meeting of the South Bcnd Redevelopment
Commission held on October 3, 2008, at ]308 County-City Building. 227 West Jefferson
Boule~~ard. South Bend. Indiana 46601.
CITY 0[' SOUTH BEND,
DGP.ART:1IENT OF REDE1'ELOP~1ENT
s~<:,,~,~~~~~
Printr~ Anmr-gym
South Bcnd Rede~~elopment Commission
ATTEST:
sr~~~~,~~~,~~
Prnucd \dnir <<n~l lIN<
South Bend Rede~°clopment Commission
E~IIIBIT r1
PROPERTY DESCRIP"1~101~' AND OFFERI'VG PRICE
Tax Kc}~ No
1 ~-3059-? ~ 19 and
18-3059-?3?0 I
Address ~~ O~~°uer Counter Offer
- -
1 109 Grace Street Marv E. LeBold, as
and I I I ~ Grace POA for Barbara L. 537.90U.U0
Street. Andrews
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