HomeMy WebLinkAboutagenda item 2016 0302 rdc 02a2ITEM: 2.A.(2)
Department of
Community Investment
Memorandum
March 2, 2016
TO: South Bend Redevelopment Commission
FROM: David Relos, Economic Resources
SUBJECT: 122 S Michigan Title Report & Supporting Documents
Meridian Title
Meridian Title is able to supply not only title reports but also supporting documents for title
exceptions that appear on the report (items recorded against the property, i.e., easements,
leases, liens, etc.). To fully understand the nature of these recorded items, it's necessary to
get a copy of them so they can be reviewed, which can be eithersupplied by Meridian or paying
the Recorder's office for copies, which is time consuming and expensive.
When Meridian provides this information, they appear on the title report whereby you can
simply click on the link and it takes you to the document. This allows you to not only access
the document but also save an electronic copy to the project's file.
The title report for 122 S Michigan has 14 title exceptions, mainly easements, leases, and
agreements between the Redevelopment Authority, Redevelopment Commission, and Bond
Trustee's. The cost for Meridian to provide these documents is up to an additional $350,
depending on the total number of pages, bringing the total for this title report to $500.
Staff requests approval to have Meridian provide this title report and supporting
documentation in a not -to- exceed amount of $500.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV