HomeMy WebLinkAboutApproving a Lease Agreement between the Board of Public Works and Lock Joint Tube Company Inc. for Lease of a Portion of Brownfield Park RESOLUTION
NO. 959-82
Passed by the Common Council of the City of South Bend, Indiana
May 24 , Ig 82
Attest: `` "`° City Clerk
r t .,
Attest: - President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
May 25 . 1g 82
'`—'--K---- City Clerk
Approved and signed by me \in( a S zg e Z
4.U
gtivt Mayor
RESOLUTION NO. QS1-8a
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
OF SOUTH BEND APPROVING A LEASE AGREEMENT BETWEEN
THE BOARD OF PUBLIC WORKS AND LOCK JOINT TUBE
COMPANY, INC . FOR LEASE OF A PORTION OF BROWNFIELD
PARK.
WHEREAS , the Board of Public Works at its meeting held on
August 24, 1981 , determined that a parcel of city-owned real estate
located at the northwest corner of Angela Boulevard and Riverside
Drive , more commonly known as a portion of Brownfield Park, was not
necessary to the public use , nor was it set aside by state or city
law for public purposes ; and
WHEREAS , on August 31 , 1981 , the Common Council approved
and ratified the action of the Board of Public Works , arrangements
were completed for an appraisal of the property, and a bid date was
established for the receipt of sealed bids for its purchase; and
WHEREAS , Lock Joint Tube Company, Inc . submitted a sole
bid for the property in the amount of $11 ,430. 00 , and, after negotia-
tion, a Purchase Agreement was entered into between the city and
Lock Joint Tube Company, Inc . on November 2 , 1981 , in the amount of
$18 ,250. 00 , said purchase contingent upon the successful rezoning
of the property from "A" Residential to "D" Light Industrial ; and
WHEREAS , subsequent to November 2 , 1981 , the Common Council
determined that a lease of the property, rather than the sale of the
property, would be in the best interests of the city and the public ,
and, in fact , the Common Council at its meeting held on February 8 .
1932 , approved the rezoning of the property to "D" Light Industrial
subject to the execution of a 20-year Lease Agreement (excluding
renewal options) for its use ; and
WHEREAS , as a result of the rezoning of the property
subject to execution of a 20-year Lease Agreement , the Board of
Public Works on March 3 , 1982 , and in accordance with state statutes
regulating the lease of city-owned property, received and awarded
the sole bid of Lock Joint Tube Company, Inc . in the amount of
$150 . 00 per month for the initial 20-year term; $225 . 00 per month
for the first renewed term of 15 years ; and $300. 00 per month for
the second renewed term of 15 years . Said bid was awarded in
accordance with the specifications prepared for the lease of the
property which contained certain restrictions for its use; and
WHEREAS , The Board of Public Works and Lock Joint Tube
Company, Inc. have entered into a Lease Agreement for lease of the
subject property in accordance with the bid awarded on March 8 , 1982 ,
subject to approval by the Common Council as required by state law.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF
THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS :
SECTION 1. That the Lease Agreement dated May 17 , 1982 ,
between the Board of Public Works and Lock Joint Tube Company, Inc.
for lease of the aforementioned portion of Brownfield Park, is
hereby approved and confirmed . Said Lease Agreement attached hereto .
SECTION 2 . That this Resolution shall be in full force
and effect from and after its passage by the Common Council and
approval by the Mayor.
_ em.er o t e o ' on ounci
PRESENTED S.- 2 y I'.7 FILED IN CLERK'S OFFICE
NOT APPROVED E I signed only to provide an MAY 1 9 1982
aDOPTRO 415"-a 4 opportunity for public discussion , .
and Council action on the issue. Irene Gammon
CITY DERR SDDIN MEND,RM.