HomeMy WebLinkAbout6.D.(2) Resolution No. 2521C ~ <2~
RESOLUTION NO. 2521
RESOLUTION APPROVING AND ACCEPTING A COI.WTEROFFER
FOR THE ACQUISITION OF PROPERTY IN "THE.
AIRPORT ECONOP~IC DE~'ELOP'~1ENT AREA
WI IEREAS_ under the authority granted by Indiana Code ~ 36-7-14. c~t .cey. and
in fw-theranee of the Airport Lconomic De~~elopment Area Deg°elopment Plan (the
"Plan~~). the South Bend Rede~~elopment Commission (the "Commission") has
determined that it is necessary to acquire unencumbered fee simple interest in certain
P~~'Pc~-ty located ~~~idtin the area heretotore designated as the Airport Economic
Dc~°clopment Area (the -'Area') ~~~ithin the City of South Bcnd. Indiana (the ~~Cit~~~).
~~~hich property is more particularly described at Exhibit A attached hereto and
incorporated herein (the "Propcrt~~~~); and
WHEREAS, on No~~ember 7. ?008, the Commission adopted a Rc olution
setlin~a the oll~erin~~ price (ihe "C)ticrin~r Price~~) and authorizin~_> sta11 to present an oftcr to
Jerry Graf and Diane Graf. Husband and Wife as o~-Hers of the Property (the "O~~~ner'~) in
an amount not to exceed the Offering Price alon~a ~~ith the payment of expenses
incidental to the conveyance and determination of the title of the Property: and
WHEREAS. the staff has presented the O~~~ner an offer for the Offering Price as
authorized. ~~~hich the O~a~ner rejected; and
WHEREAS. the O~rncr has pro~~idai a countcroftcr to the Commission for
S35.OOO.OU. ~~~hich includes all expenses related to the acquisition; and
WH}~REAS. the Commission desires to purchase the Property for 1,';5.000.00,
appro~~e the form of Purchase Agreement, and authorize the President and Secretary of
the Commission to execute and attest, respecti~~ely, the Purchase Agreement on behalf of
the Commission, ~~rith such chnn~~es in form or in substance as the President and
Secretary may appro~~c, and
WHEREAS. the staff has re~ic~~~ed 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
Property and sufticicnt funds arc a~~ailablc for the purchase of the Property:
VOW. THEREFORE, f3E IT RESOLVED by the South Bend Rede~~elopment
Commission that:
1. The Commission hereby finds that the consideration set torth in the
Purchase Agreement is reasonable considering the circumstances and that it is in the host
interest of the citizens of the City and the South Bcnd Rcder~elopment District and
consistent ~~~ith the purposes and requirements set forth in Indiana Code > >6-7-14 to
accept the counteroffer c~~idenced in the Purchase Agreement.
2. The 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 fi~~rm or in substance as they deem to be necessaw or appropriate to complete
the llansl~er, with such approval to be conclusively evidenced by such execution and
attestation. respecti~°ely. The President and%or Secretary are each aut)~orized to execute
and dcli~~cr any other documentation ileccssary to complete the acquisition of the
Property. Legal counsel fibr 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 Agreement presented to the C onunission ~a--°ith this Resolution in
the records and minutes of this meeting.
ADOPTED at a Re~uular Meeting of the South Bcnd Rede~°clopmcnt
Commission held on :~~mcmber 7. 2008. at 1 ,08 County-City Buildin~~. ??7 West
Jefferson Boulevard. South Bcnd, Indiana 46601 .
CITY OP SOUTH BEND,
DEPARTMENT OF REDE~~'ELOPMENT
s;~,~,aa~,~~
/'n~.C~mn ~md l~dr
South Bend Redc~~elopment Commission
ATTEST:
sw„~,~~~~~~
l'rirtn~,l.Aunn~iuJ liilr
South Bcnd Rede~~elopment Commission
EaHIBIT A
PROPERTY DESCRIPTIO'~~ AND PURCHASE PR1CE
Tax Key No.
18-8006-0;?9
Address
I ~?0 Franklin Street
Graf
Counter Offer
O~~ ner
Purchase Price
Jerry and Diane
S35.000.00