HomeMy WebLinkAboutNo. 2332 acknowledging and approving certain actions and authorizing the execution of certian documents relate to the A.J. Wright Distribution Center Project4
RESOLUTION N0.2332
A RESOLUTION OF THE P ROVING CE RTA N ACOT ONS AND AUTHORIZING
ACKNOWLEDGEING AND A
AND APPROVING THE EXECUTION OF CERTAIN DOCUMENTS RELATED TO
THE A.J. WRIGHT DISTRIBUTION CENTER PROJECT
(Sample-Ewing Development Area)
WHEREAS, the City, the Commission, AJW and TJX are parties to that certain Contract for
Sale of Land for Private Development having an effective date of April 24, 2002, a Memorandum of
said agreement having been recorded on July ~ 1, 2002 as Document No. 0240863 in the Office of the
Recorder for St. Joseph County, Indiana (``Contract") related to development and construction of the
A.J. Wright Distribution Center located within the general vicinity of Sample and Olive Streets
within the City of South Bend, Indiana ("Project"); and
WHEREAS, the Contract includes certain construction obligations, deadlines and job targets
related to completion of the Project as well as the disposition of certain funds that have been held in
escrow at Meridian Title Corporation; and
WHEREAS, at the Commission's regular meeting of April 20, 2007, City staff presented
information and made certain recommendations to the Commission related to the current status of
the Project; and
WHEREAS, in order to reflect certain changed conditions and in order to reflect changes in
the Project schedule as presented by staff, it is necessary to amend the Contract and to provide a
written agreement related to the release and disposition of the escrowed funds; and
WHEREAS, upon advice of legal counsel, the Commission also desires to enter into certain
formal agreements that are consistent with the concepts presented by staff at the Commission's
public meeting held on Apri120, 2007 including, but not limited to, a First Amendment to Contract
for Sale of Land, a Certificate of Completion, a Closing Statement, and any other agreements that,
upon advise of legal counsel, are necessary to effect the transaction as presented; and
WHEREAS, the Commission meets in regular sessions on asemi-monthly basis and
completion of the paperwork related to the transaction may require immediate action from the
• Commission, including the execution of certain documents; and
• WHEREAS, the Commission recognizes that time is of the essence in order to accomplish
certain actions relating to the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
The Commission acknowledges the current status of the Project as presented by staff
at the Commission's meeting of April 20, 2007 and continues to endorse and support
the Project in light of the changed conditions that warrant the actions described
herein.
2. The Commission hereby directs and authorizes legal counsel to prepare any necessary
revisions or amendments to the documents previously executed by the parties which,
in the opinion of legal counsel, are necessary to memorialize the changed conditions
and the current Project status as presented by staff at the April 20, 2007 public
meeting including, which may include, but not limited to amendment to the Contract
for Sale of Land and revisions to Exhibit to the Contract.
3. The Commission hereby directs and authorizes legal counsel to prepare any other
documentation consistent with and necessary to meet the obligations expressed in the
Contract for Sale of Land, as amended, including, but not limited to, a Certificate of
Completion pursuant to ARTICLE 12, Paragraph (3), and a Closing Statement related
• to disposition of the escrowed funds pursuant to ARTICLE 3, Paragraph (~), each in
a form that is acceptable to legal counsel.
4. The Commission hereby authorizes the President of the Commission, or the Vice
President in the absence of the President, to execute and the Vice President or
Secretary to attest the documents as described in this Resolution and in the form and
substance as presented at this meeting with such changes as may be suggested by
legal counsel and approved by the President and Vice President or Secretary with
such approval evidenced by the execution and attestation respectfully, thereof.
5. This Resolution shall be in full force and effect upon its adoption by the South Bend
Redevelopment Commission.
***
• H:\WPData\Projects\SEDA\Distribution Ctr\Resolutions\82332-ApprovingP.mendment_070420.doc
• ADOPTED at a meeting of the South Bend Redevelopment Commission held on Apri120,
2007, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND,
DEPARTMENT OF REDEVELOPMENT
l/
Signature
Marcia I. Jones, resident
Printed Name and Title
South Bend Redevelopment Commission
ATTES
Stgn e
regory S. Downes, Secretary
Printed Name and Title
South Bend Redevelopment Commission
H:\WPData\Projects\SEDA\Distribution Ctr\Resolutions\82332-ApprovingAmendment_070~t20.doc