HomeMy WebLinkAbout6.B.(14) Resolution No. 2496~ ~, ~~~~~
RESOLUTION NO. 2496
RESOLUTION APPRO~"ING AND ACCEPTING A COUNTEROFFER
FOR THE ACQUISITION OF PROPERTY IN THG
SOUTH BEND CENTRAL DE~~ ELONMENT AREA
WHEREAS, under the authority granted by Indiana Code ~ i6-7-14, c'! .cc~c~. and
in furtherance of the South Bend Central Deg elupment Area Development Plan (the
'~Plan~~). the SoutJi Bend Redevelopment Commission (the "Conunission~~) has
determined that it is necessary to acquire unencumbered fcr simple interest in certain
propa-ty located within the area heretofore designated as the South Bend CenU~al
Development Area (the "Arca~~) within the City of South Bend, Indiana (the "City~~).
~~~hich property is more particularly described at Exhibit A attached hereto and
incorporated herein (the `Propert~~.~l: and
WHEREAS on September 5, ?OOS. the Commission adopted a Resolution
settin~~ the ol~l~erin<~ prier (the ~~O(lcring Price~~) and authorizin~~ staff to present an offer to
Jack E. Richcy..fr. R Pamela E. Richey, Husband R 11'ife. as ow-Hers of the Property (the
"Owncr~~J in a^ amount not to exceed the Offering Price along with the payment of
expenses incidental to the com~eyancc and determinatirnl of the title of the Property; and
WHEREAS, the staff has presented the Owner an offer for the Offering Price as
authorized. ~i~hich the Owner rejected: and
WHEREAS. the O~~~ncr has pro~~ided a counterot(cr to the Commission fbr
S 145.000.00, plus all expenses related to the acquisition: and
WHEREAS the stall has rc~ic~red the counteroffer and determined that the
proposal is reasonable in light of the appraisal amount, conditions in the area, and the
amount of announced de~~elopment in the immediate area: and
WHEREAS, the Conunissio^ has completed its acquisition procedures for the
Property and sufticient funds are a~ unable for the purchase of the Property:
'VOW. THEREFORE_ BE ["I~ RESOLVED b_v the South Bend Rede~~elopmcnt
Commission that
] . The Commission hcrcbv finds that the consideration set forth in the
Purchase A~rec meat is reasonable considerin~a the circumstances and that it is in the best
interest of the citizens of the City and the South Bald Rede~clopment District and
consistent ~sith the pw~poscs and requirements set forth in Indiana Cody ~ ,6 7-14 to
accept the cuuntrruffer e~idencal in the Purchase Agreement.
?. Thr Couunission hcrcbv appro~ rs and acce~~ts the Purchase Agreement
and authorises the President and the Secretary to execute and attest, respectively, the
Assignment of the Purchase Agreement and, or the Purchase Agreement ~~~ith such
changes in form or in substance as they deem to be necessary or appropriate to complete
the transfer. ~~ ith such approval to be conclusively evidenced by such execution and
attestation, respectively. The president and%or Secretary arc cads authorized to execute
and dcli~~cr any other documentation necessary tai complete the acquisition of the
Pro~~erty. Legal counsel t~~r 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.
~. The Secretary of the Commission is instructed to place a copy of the
assignment and Purchase Agreanent ~~resentcd to the C onunission with this EZesolution in
the records and minutes of this meeting.
4. Don Inks or Jeff Gibney is authorised to execute on behalf of the
Commission any documents accessary to carry out the intent of this resolution.
ADOP I~GD at a [Zegular Meeting of the South 6cnd Rcdcvclopment
Commission held on October 17. ~U08, at 1305 County-City Building. ?~7 West
Jefferson Boulevard. South Bend. Indiana 46601 .
CITI' OE SOUTH QEV~D,
DEP:IRT~IE'YT OH' REDE1'ELOP~1ENT
s,,-,~<,<<r~~~
~'rDU~~,~ns n~ ~~i~~
South Bend Rede~°elopment Commission
A"T"LEST:
.Sien~inuz
P~i~~l~d.A~~nn uiiJ li~lr
South Bend Rede~~elopmeut Commission
E~HIBI"1' A
PROPER"I~l' DESCRIPTION ADD P~;RCHASE PRICE
Taz Key No. Address
O« ner
Purchase Price
Counteroffer
Jack E. Richey. Jr.
18-,01 ~-0474 41 G Western A~~c I R Pamela E. S 190,000.UO
~ Richey