6.C.(3) Resolution No. 2584 - Laserfiche WebLink

Home Browse Search

1~ ~ C~~ RESOLUTION NO. 2584 A RESOLUTION OF THE SOUTH BL-ND REDEVELOPMENT COMMISSION, APPROVING THE EXECUTION OF A PURCHASE AGREEMENT FOR THE TRANSFER OF REAL PROPERTY FROM THE SOUTH BEND REDEVELOPMENT COMMISSION TO THE SOUTH BEND PUBLIC TRANSPORTATION CORPORATION. WHEREAS, pursuant to I.C. 36-7-14-3. the South Bend Redevelopment Commission ("Commission") is the ~~overning body ofthe City of South Bend Department of Redevelopment ('`City') and, pursuantto I.C. 36-7-14-12? and -19, may acquire and dispose of interests in property; and WHEREAS. pursuant to I.C. 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 itt property: and WHEREAS, Transpo and the City, acting through the Commission. are parties to an agreement entitled "Contract for Ptn~chase and Sale of Real Estate" (the "A~rreement'~) 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 Properh~ (approximately 20 acres) was intended to be the location ofTRANSPO's new corporate and facilities campus (the "Operations Facility"): and WHEREAS, pursuant to the A~~reement, Transpo provided to the City, acting dn-ough the Connnission, an earnest money deposit of One Million Dollars (S 1,000.000.00)(the "Earnest Money Deposit': and WHEREAS, the City, acting throu~~h the Commission, has requested that Transpo locate the Operations Facility on property different from the Property (the "New Property'); and WHEREAS. Commission has determined that relocating the Operations Facility to the New Property is in the best interests of Transpo and the City: and WHEREAS. the Connnission and Transpo have agreed to terminate the Agreement on the Property and retun~ the Earnest Money Deposit to Transpo (the "Termination A~~reemenf~) and enter into a ne~a pw•chase and sale agreement on the New Property (the "New Agreement') related to the acquisition of the New Property for the Operations Facility containin~~ ? 1.6 acres more or less. which. upon plat committee approval, shall be referred to as Lot 2 of the Transpo Minor Subdivision: and WHEREAS. Commission desires to complete the transfer of the New Property from the City to Transpo pursuant to the teens of the New Agreement: and WHEREAS, pursuantto Ind. Code ~ 36-1-1 1-8, the City. by and throu~~h the Connnission, and Transpo, by and throu«h its goy enlin~~ body. may exchange or transfer property with one another upon teens and conditions agreed upon by the two (')entities as evidenced by the adoption of substantially identical resolutions of each entity: and WHEREAS. Transpo has or will consider a substantially similar resolution approving the execution oPthe New Agreement.