HomeMy WebLinkAboutNo. 2417 approving the Addendum to Agreement for the transfer fo real property from the Redevelopment CommissionRESOLUTION NO. ~`-/I ~
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE ADDENDUM TO THE AGREEMENT
FOR THE TRANSFER OF REAL PROPERTY FROM THE CITY OF
SOUTH BEND, INDIANA, REDEVELOPMENT COMMISSION
WHEREAS, pursuant to LC. 36-9-4-12, the South Bend Public Transportation Corporation
("Transpo") is a separate municipal corporation and, pursuant to LC. 36-9-4-30, Transpo, acting
through its Board of Directors ("Board"), may acquire interests in property; and
WHEREAS, pursuant to LC. 36-7-14-3, the South Bend Redevelopment Commission
("Commission") is the governing body of the City of South Bend Department of Redevelopment
("City") and, pursuant to LC. 36-7-14-12.2 and -19, may acquire and dispose of interests in property;
and
WHEREAS, Transpo and the City, acting through the Commission, pursuant to Resolution
No. 2197 are parties to an agreement entitled "Contract for Purchase and Sale of Real Estate" (the
"Agreement") related to the acquisition of certain properties located at and commonly known as the
. South Bend Stamping Plant described as a part of the Northeast Quarter of Section 14, Township 37
North, Range 2 East in the City of South Bend, Indiana, containing 38.23 acres more or less
("Property"); and
WHEREAS, a portion of the Property (approximately 12 acres) was intended to be the
location of Transpo's new corporate and facilities campus (the "Campus"); and
WHEREAS, the Agreement provided that approximately 26 acres of the Property would be
leased back to the Commission for commercial development; and
WHEREAS, Transpo has determined that it requires a larger portion of the Property for its
Campus (approximately 20 acres), leaving a smaller portion of the Property for lease to the
Commission for commercial development; and
WHEREAS, the Commission and Transpo have agreed to amend the Agreement to decrease
the amount of the Property which will be leased to the Commission and to increase the purchase
price from $4,000,000 to $4,235,800; and
WHEREAS, the Commission and Transpo wish to amend the Agreement pursuant to the
terms of a certain addendum attached hereto as Exhibit A (the "Addendum"); and
WHEREAS, Transpo desires to complete the transfer of the Property from the City to
Transpo pursuant to the terms of the Agreement as amended by the Addendum; and
WHEREAS, pursuant to Ind. Code § 36-1-I l-8, the City, by and through the Commission,
and Transpo, by and through its governing body, may exchange or transfer property with one another
upon terms and conditions agreed upon by the two (2) entities as evidenced by the adoption of
substantially identical resolutions of each entity; and
WHEREAS, the Commission has or will consider a substantially similar resolution
approving the Addendum to the Agreement.
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commission that:
1. The Commission shall execute the Addendum, amending the Agreement to purchase
the Property.
2. The transfer of the Property, as provided in the Agreement and as amended by the
Addendum, shall be, and hereby is, approved.
3. This Resolution shall be in full force and effect upon its adoption by the
Commission, and upon the adoption of a substantially similar resolution by Transpo.
ADOPTED at a meeting of the South Bend Redevelopment Commission held at the Public Hearing
Room 13`x' Floor County-City Bldg., South Bend, Indiana 46601 on December 7th, 2007.
CITY OF SOUTH BEND, DEPARTMENT
OF REDEVELOPMENT
Marcia I. Jon , President
Its:
South Bend Redevelopment Commission
ATTEST:
1 G. King,~Vice=President
SBDS02 MDH 365A91~.•1