HomeMy WebLinkAboutNo. 2505 approving and accepting a counter offer for the acquisition of property in the Airport Economic Development Area (North Portion 1202 S. Lafayette)RESOLUTION NO. 2505
RESOLUTION APPROVING AND ACCEPTING A COUNTEROFFER
FOR THE ACQUISITION OF PROPERTY IN THE
AIRPORT ECONOMIC DEVELOPMENT AREA
WHEREAS, under the authority granted by Ind. Code § 36-7-14, et seq. and in
furtherance of the Airport Economic Development Area Development Plan (the "Plan"),
the South Bend Redevelopment Commission (the "Commission") has determined that it
is necessary to acquire unencumbered fee simple interest in certain property located
within the area heretofore designated as the Airport Economic Development Area (the
"Area") within the City of South Bend, Indiana (the "City"), which property is more
particularly described at Exhibit A attached hereto and incorporated herein (the
"Property"); and
WHEREAS, on September 5, 2008, the Commission adopted a Resolution
setting the offering price (the "Offering Price") and authorizing staff to present an offer to
Deister LLC as owners of the Property (the "Owner") in an amount not to exceed the
Offering Price along with the payment of expenses incidental to the conveyance and
determination of the title of the Property; and
WHEREAS, the staff has presented the Owner an offer for the Offering Price as
authorized, which the Owner rejected; and
WHEREAS, the Owner has provided a counteroffer to the Commission for
$39,000, which includes all expenses related to the acquisition; and
WHEREAS, the Commission desires to purchase the Property for $39,000,
approve the form of Contract for Purchase and Sale, and authorize the President and
Secretary of the Commission to execute and attest, respectively, the Contract for
Purchase and Sale on behalf of the Commission, with such changes in form or in
substance as the President and Secretary may approve; and
WHEREAS, the staff has reviewed 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 sufficient funds are available for the purchase of the Property;
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commission that:
1. The Commission hereby finds that the consideration set forth in the
Contract for Purchase and Sale 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 counteroffer evidenced in the Contract for Purchase and Sale.
2. The Commission hereby approves and accepts the Contract for Purchase
and Sale and authorizes the President and the Secretary to execute and attest,
respectively, the Assignment of the Contract for Purchase and Sale and/or the Contract
for Purchase and Sale with such changes in form or in substance as they deem to be
necessary or appropriate to complete the transfer, with such approval to be conclusively
evidenced by as such execution and attestation, respectively. The President and/or
Secretary are each authorized to execute and deliver any other documentation necessary
to complete the acquisition of the Property. Legal counsel for 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.
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3. The Secretary of the Commission is instructed to place a copy of the
assignment and Contract for Purchase and Sale presented to the Commission with this
Resolution in the records and minutes of this meeting.
ADOPTED at the Regular Meeting of the South Bend Redevelopment
Commission held on September 5, 2008, at 1308 County-City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND,
DEPARTMENT OF R DEVELOPMENT
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Marcia I. Jones President
Prime ame an it e
South Bend Redevelopment Commission
South Bend Redevelopment Commission
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EXHIBIT A
PROPERTY DESCRIPTION AND PURCHASE PRICE
Counter Offer
Tax Key No. Address Owner
Price
18-8004-0162 1202 S. Lafayette Deister LLC. $39,000.00
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