Resolution No 10-2021 - Staff Authorization Resolution Coal Line Trail Acquisition Norfolk Southern Railway Coal Line

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INTER-OFFICE MEMORANDUM Department of Law City of South Bend 227 W Jefferson Blvd TO: Board of Public Works, Anne Fuchs, Clara McDaniels FROM: Sandra Kennedy, Assistant City Attorney SUBJECT: Resolution No. 10-2021 DATE: March 17, 2021 Members of the Board, Ms. Fuchs, and Ms. McDaniels: As you are aware, the City has been planning a multi-use trail over the abandoned railway line that formerly brought coal to the University of Notre Dame campus. In December 2020, the Board authorized the execution of a Settlement Agreement, allowing the City to acquire the approximately 10.48 acres plus an abandoned railroad bridge over the St. Joseph River owned by Norfolk Southern Railway Company ("NSRC") for a purchase price of $600,000. The parties entered into a separate Real Estate Purchase Agreement ("REPA") in March 2021 for the purchase of the Property with an effective date of December 31, 2020. The conditions precedent in the REPA have been satisfied, and NSRC and the City would like to close the transaction. To effectuate the closing, the City requests that the Board authorize David Relos and Tim Corcoran of the City's Department of Community Investment to act on behalf of the Board to execute documents ancillary to closing, such as the closing statement, sales disclosure form, and other such documents; accept the deed and present it for recording; and authorize the release to NSRC of the purchase price, which is currently being held in escrow by Meridian Title. Thank you.