HomeMy WebLinkAboutNo. 2340 approving the development agreement with Historic Landmark Foundation of Indiana and other related matters•
RI~SOLUT[ON NO. 2340
A RESOLUTION OF TIIE SOUTH BL+;Nll RI?,DF,VELOPMENT
COMMISSION APPROVING T1-IE llF,VELOPMENT AGREEMENT
WITH IIIS"CORK LANDI~'IARK FOUNDATION Or INDIANA, INC.
AND OTHER RELATED MATTERS
WHEREAS, the South Bend Redevelopment Commission ("Cnnu~~ission~") is the
governing body of the City of South Bend Department of Rcdcvclopmcnt established under the
Ralcvclopmcnt of Cities and "Towns Act of 1953, as amended, being lndiana Code ~ 36-7-14-1
et sey. (the "i1 ct"); and
WHEREAS, redevelopment and the stimulation of economic development are of benefit
to the health and welt-arc of file people of Indiana and the citi~cns of the City of Soutl~~ Bend,
lndiana (the "City"), arc public uses and purposes for which public money may be spent and arc
a public utility and benefit; and
WI11~R[~~\S, the Commission has the power and duty to investigate, study, and devclo~~
areas within the corporate boundaries of the South Bend Redevelopment District (the "Di.~tri~ct')
that. the Commission has determined to be blighted, stagnant or deteriorating in order to
encourage economic development and redevelopment; and
WHEREAS, a certain property, previously known as the Education Center for the South
Bend Community School Corporation (the °Schnnl Corj~oratinn"), is located at the southwest
corner of Main and South Strccls and the southeast corner of Main and Bronson Streets within
the City of South Bend, St. Joseph County, Indiana together with the parking lots associated with
die same (the Education Center and related parking lots being collectively hereinafter referred to
as the "EducaN~»~ Ce»Ier") which is more particularly described at Exhibit A, attached hereto
and incorp«ratcd herein; and
WHEREAS, the School Corporation, the City of South T3cnd, Indiana Board of Public
Works (the "Board n/~ l~'nrk,~"), and the South Bend Redevelopment Commission
("Contmissinn") arc parties to a certain Amended and Restated Agreement ("it»7ended
,~~~reemc~nt") having an effective date oi~ November 19, 2004 and a certain C'irst Addendum to
the Amended and Restated Agreement (the Amended Agreement and i~ first Addendum
collectively rcicrred to hereafter as the "Agreemcnitc") having an effective date of .Tune 26, 2000;
and
WHEREAS, the AgreeiT~cnts include certain terms and conditions related to the
disposition of the Education Center; and
WI-ICRCAS, one ol~ the terms anti conditions is tl~~at the Historic Landmarks Foundation
of Indiana, Inc. (~"III FI") shall be afforded the reasonable opportunity to identify an
economically viable plan for the redevelopment of the Cducation Center by HLFI or a third
parry; and
WI iCRCAS, the first Addendum defines "economically viable" to mean that a ready,
willing and able purchaser has been identified; a written agreement has been fully executed with
the prospective purchaser and there is a sufificicnt financial conunitment to permit both the
purchase and redevelopment plan for the Cducation Center to commence o-1 or belore July I,
2007; and
WHCRCAS, the Education Center is a Jocal landmark and if an economically viable
rcusc is not identifiicd shortly, the Cducation Center is in danger o1~ being abandoned or
demolished unless an economically viable rcusc is identified; and
W(1CRh,AS, any probable rcusc of the Iducation Ccntcr would reduirc additional
parking spaces and significant amount of invcslmcnt in the Education Ccntcr and in certain
public. infrastructure improvements; and
WHEREAS, HLFI has entered into an agreement with a developer providing for the
rcdevelopmcnt oI~ the Cducation Center (the "HLFI ilgreemeitf'), «~hich contemplates public
invcstrnent to provide for the developer fo proceed with the project proposed by the developer
(the "Prajecf'); and
WIJI'RCAS, in order to induce the I1LI~I to proceed with its negotiations with the
developer and provide for the Project, a development agreement has been presented to the
Commission providing for a public invcslmcnt in the Pr~~jcct of approximately Six Hundred
"Thousand and 00/ 100 Dollars ($600,000.00), to the extent that the developer has invested at least
Six Million and 00/100 Dollars 06,000,000.00) in the preservation of the Education Ccntcr; and
WHCREAS, the Commission desires to provide for the preservation and rcusc of tilt
Cducation Center as such is in tine best interest of the City of South Bend, Indiana (die "City");
and
WHCREAS, the Commission desires to approve the Dcvclopment Agreement and any
documents contained or contemplated therein, including but not limited to a COntl'act of Purchase
and Sale, a Decd, an Agency Agreement, the Partial Assignment of h~terest and the other
certificates and ~~greements attached thereto or contemplated therein (collectively, the
"Denclop~irent Dncrnrre~rts") and to authorize the President of the Commission (the "Pre,~~idenf')
or the Vicc-President of the Commission (the "bite-President") to execute, and the Vice-
President or Secretary of the Commission (the "Secretary") to attest, the Dcvclopment.
Documents, with such changes as such executing and attesting officers may approve upon the
advice of legal counsel;
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THE COMMISSION NOW FINDS THAT:
I. The redevelopment ~~(~ the Property, as proposed by the HLF1 (i) may not be
accomplished through the ordinary operations of private enterprise; (ii) will
pl'omotC a SUbstai1tlal hkellhood Ol CrCating of retallUng opp01'tUn1tICS lol' galnfUl
cm~~loymcnt and crcatc additional business opportunities in the Area; (iii) will
serve a public pw-pose as it will bencfiit the public health, safety, morals, and
welfare of the City and the District and increase their economic well-being and
that of tl~ic State of Indiana (the "Suite"); and (iv) will protect and increase
property values in the City, the District and the State.
2. The Project would crcatc additional jobs, which will signi{icantly improve the
opportunities for gainful employment in the District and the City.
3. Providing additional parking spaces near the Education Center will increase the
likelihood of sustaining and creating further economic development and
rcdevclopmcnt of the South Bend Central Devclopmcnt Area and the City.
4. Without (hc Commission's involvement as contemplated by the Development
Documents, the redevelopment of the Education Center in its existing state, size
and condition would not support the Project, as proposed, or any other project that
would be likely to result in the Education Center's preservation and its highest
and best use.
The Commission's involvement in the Pr<~ject as described in this resolution and
5.
the Development. Documents will best serve the interests of the City and its
citizens.
(~. The Project, the Development Documents and the assistance thereof as set forth in
the Devclopmcnt Documents comply with applicable federal, state and local laws
under which the Project has been undertaken and is being assisted and the
Development Docun~cnts and the actions contemplated therein are authori?cd.
NOW, THEREFORE, BL IT RESOLVED BY THE SOUTI-I BEND
REDEVELOPMENT COMMISSION AS FOLLOWS:
1. The Project, as proposed, and as contemplated in the Development Agreement
and other Devclopmcnt Documents, is hereby approved.
~I~hc Commission hereby approves the Devclopmcnt Agreement and other
Devclopmcnt Documents in the farm attached hereto as Lxhibit E1, including the Contract of
Purchase and Sale, the Deed, the Agency Agreement, the Partial Assignment oI~ Interest and the
other ccrtiiicates and agreement attached thereto or contemplated therein.
3. 'T'he Commission hereby authorizes the President or the Vice-President to execute,
and the Vice-President. or Secretary to attest, the Devclopmcnt Agreement and other
Development Documents with such changes either in form or in substance as such executing and
attesting of [iccrs may a~~prove upon the advice of legal a~unscl with such apprm~al to l~~e
conclusively evidenced by such execution and attestation.
4. The staff is hereby aud~orizcd io administer the Developer Doct.m~ents, and the
President, Vice-President, the; Secretary, and the Director of Economic Development of the
Department o[~ Redevelopment are cacti authorised to execute a~ay administrative certificates or
documents related to the administration of the Development Documents on behalf of the
Commission.
5. The authorisations of property acquisitions or dispositions contemplated by
Devclopn~~ent Documents arc subject fo the Commission's an»pletion cif its acquisition and
disposition procedures set lorth under the Act.
(. This Kesolution shall he in mull force and effect a[tcr its adoption by the South
Bend IZedevclopmcnt Commission.
ADOP"fED al a meeting of the South Bend Redevelopment Commission held on May 18,
2007 at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
CITY OF SOUTl1 i3END,
DI?,PnR~~~'1[±,N"I' OP' RN;DF,~~C,LOPMENT
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~;L,~~,~~,~~~~ - -
Marcia I. Jones,_President
Nrinl~~r Nnnu° nn~~--
Soulfi T3end Rcdcvclo~~ment Commission
A"i`1'ES"1':
Gregory S . Doumes , Secretary
l'rinlrr Nunu~ a~'f~r ~~~
South F3cnd Redevelopment Commission
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LXIIIBIT A
Lcg~l Dcscri~~lioi~
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Schedule A
EXHIBi a A
PARCEL f: B2ir,g :het certain Tract Numder 1 as shown upon the recorded Plat of the Studebzker Corporation
Repiat, dated Januar/ 13, 1925 and racordad in the Recorder's O~:ice of St. Joseph Gourty, Indiana, Plat bock 11,
oases 1 Ss to 187 inclusive.
PARCEL I1: Lot :Numbered Nineteen (19) and a parcel of iand Fourteen (i ^-.) fe° in widish, North and South, taker
or:" or" and `rpm the aril?re length of he Nosh side or' Lot Numbered Twenty (20), and a Iot or parcel of iand~Forty (^^-0)
feet in width; East and ~r`lest, taken ar of and from the enure width cf the East er,d of Lot Numbered Twenhj-eig~,t
(28), all as sho~Jvn cn the racordad Plat of iViarir & Tuft's Addition to the Town., now Cir/ of Sou#f- band.
PARCEL IIl: Lot Numbered Seventeen (17} as shown on the recorded Plat cf Martin & Tuft's Addition to the Town,
now Ci=.y, of South Bend, excepting herefron a strip of lard T~~uo (2} feet ir: avidth, Horn and South, taken or of 2nd
`rpm the entire :North SIdE th2feei, and eXCe,^.#int~ iherefrom ~ SiriC Oi land NinE (9) neat In'widih, ~i0rtil and SGUif1,
taken o=~ of and from the entire South sloe :hereof.
PARCEL. IV: Lot ivurnbered T,v2nty (20) as shown on the recorded Plat or Nlartir; & TutYs Addition to the Tcwn,
now City of South Bend, excepting a let or parse! cf •.and Faureen (id) feet in avidth North and South taken o.. and
from the entire lengih of the Nosh side thereof.
PARCEL V: ? ct ~'~iumbered Sixteen (16 and a lot or parse? Cf iand Two (2) fee's in grids:, North and South taken o
of and from the entire ,ength of h~ Nora? side of Lot Numbered Seventeen (17}, all as shown on the recorded Plai
of Nlzrin and Tuft's Addi#ion tc the Town, now City o+ South Bend; excepting therefrom a lot er parcel of land Thiry-
five (35) feet in avidth, Bast and '~A1est, taken off or' and from the entire ~,vidtih of 'the Basi ands thereof.
PARGIrL V1: A par; of Lots Tavenh/-eight (28) and T~roent~,r-~:ine (29) in PAariin & Tuft's Addition to the Ciiy or South
82nd, indiana, pounded by a line ;tinning as follows, viz:
Beginning at the .Northwest sort er cf Let Tavenry-eight (28} in ~~,1a~in & TutYs Addition, thence Basi along the Souttt
line of South Streei, a dstance of One Hundred Twenr/-rive and E.ighiy-nine HundredL;;s (125.&9) fe°t io a point
Forty {~0) feet West of the Northeast corner or"said Lot Numbered Twenty-night (28); .hence Scuih carallei wi#h an:d
Forty (~0) feel iNest of the cast line cf said Loi T~,veray-eight (28! a distance cc Sixty-six and iVin2 Hundredths
(86.OG} `eat to the Souk line of said Lot Twenty-eight (28); hence cast along the South line of said Lot Twert;~-eight
(28) a distance ofi Forty (='G) feet tc the Fast line of said Lot Twenty-eight (2$); thence South atorg the East line of
of T vreniwnine (2°) a distance ar S{xiy-eix and Eleven Hundredths (08.1 1 }feet to the ~oriherfy righi ofi }way !ine of
iNew York Central Railroad; thence UVesterly along the Nor=.heriy lire of said right or" w2y a distance of One Hundred
Sixty-seven {187.QC) feet to the Bast line of ! afayei:te Boulevard; Chance Nor#h along the East'.~ine of Lafayette
8ouievard a distance of One Hundred T Twelve and Eighb/ Hundred#hs {112.80} fleet to the place of beginnir;g.