HomeMy WebLinkAboutNo. 2485 approving and accepting a counter offer for the acquisition of property in the NNDA (1113 & 1117 Burns)RESOLUTION NO. 2485
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RESOLUTION APPROVING AND ACCEPTING A COUNTEROFFER
FOR THE ACQUISITION OF PROPERTY IN THE
NORTHEAST NEIGHBORHOOD DEVELOPMENT AREA
WHEREAS, under the authority granted by Ind. Code § 36-7-14, et seq. and in
furtherance of the Northeast Neighborhood 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 Northeast Neighborhood
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 August 15, 2008, the Commission adopted a Resolution setting
the offering price (the ``Offering Price") and authorizing staff to present an offer to R.
Glen Goodin and Michael Wankel 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 rovided a counteroffer to the Commission for
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$65,000.00, which includes all expenses related to the acquisition; and
WHEREAS, the staff has reviewed the counteroffer and determined that the
proposal is reasonable in light of the appraisal amount, conditions in the area, and the
amount of announced development in the immediate area; and
WHEREAS, there has been presented to the Commission a Purchase Agreement
negotiated by the Northeast Neighborhood Revitalization Organization (the "NNRO") for
the Property (the "Purchase Agreement") under which the Owner proposes to sell the
Property for $65,000.000, plus moving expenses; and
WHEREAS, the Commission desires to purchase the Property pursuant to the
Purchase Agreement by accepting an assignment of the Purchase Agreement from the
NNRO, a copy of which has been presented to the Board (the "Assignment"), and
authorizes the President and Secretary of the Commission to execute and attest,
respectively, the Assignment and, if requested by the Owner, the Purchase Agreement on
behalf of the Commission, with such changes in form or in substance as the President and
Secretary may approve; 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
Purchase Agreement 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 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 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 andlor 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.
3. The Secretary of the Commission is instructed to place a copy of the
assignment and Purchase Agreement presented to the Commission with this Resolution in
the records and minutes of this meeting.
4. Don Inks or Jeff Gibney are authorized to execute on behalf of the
Commission any documents necessary to carry out the intent of this resolution.
ADOPTED at the Regular Meeting of the South Bend Redevelopment
Commission held on August 15, 2008, at 1308 County-City Building, 227 West Jefferson
Boulevard, South Bend, Indiana 46601.
ATTEST:
S. Downes, S
CITY OF SOUTH BEND,
DEPARTMENT OF R~EVELOPMENT
J'ignahere / /
Marcia I. Jones President
Printe ~ 'acne an it e
South Bend Redevelopment Commission
South Bend Redevelopment Commission
EXHIBIT A
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PROPERTY DESCRIPTION AND PURCHASE PRICE
Counteroffer
Tax Key No. Address Owner
Purchase Price
18-5100-3537 1113 Burns
R. Glen Goodin and $65,000.00
Michael Wankel
18-5100-3540 1117 Burns
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