5C1 Resolution No. 3656 (Purchase Agreement for Old Marquette School) - Signed

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A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ACCEPTING TRANSFER OF REAL PROPERTY FROM THE SOUTH BEND COMMUNITY SCHOOL CORPORATION BOARD OF SCHOOL TRUSTEES RESOLUTION NO. 3656 WHEREAS, South Bend Community School Corporation (“School”) owns certain real property, specifically 2.7 acres of the southern portion of Parcel Key No. 71-03-34-277-001.000- 026 containing the former Marquette School Building, with a common address of 1905 College Street (the “Property”), which is undergoing a subdivision process, and School wishes to transfer the approximate 2.7 acres and all improvements on said Property as further described in the attached Real Estate Purchase Agreement; and WHEREAS, School desires to transfer its property rights in the Property to City of South Bend, Indiana, Department of Redevelopment, by and through its governing body, the South Bend Redevelopment Commission (“Commission”) after determining a transfer to a governmental entity rather than a sale or lease to a nongovernmental entity would be in the best interests of School and the public; and WHEREAS, the transfer of the Property will promote economic development projects and facilitate compatible land use planning, and the Commission has represented the Property will be used for general public benefit and welfare and will promote the recreational, public, and civic well-being of the community; and WHEREAS, a transfer or exchange of the Property is allowed under Ind. Code § 36-1-11- 8, which provides the transfer may be made with a governmental entity upon terms and conditions agreed upon by the entities as evidenced by adoption of a substantially identical resolution by each entity; and WHEREAS, the School and Commission have agreed School will transfer the Property to the Commission under the terms and conditions as set forth in the Real Estate Purchase Agreement and form of deed, attached hereto as Exhibit A, which includes a purchase price of Sixty Thousand and Seven Hundred and Fifty Dollars ($60,750.00), representing the sum of the average of two independent appraisals of the Property’s fair market value in accordance with I.C. 36-7-14-19.5 of the Redevelopment of Cities and Towns Act of 1953, as amended; and WHEREAS, School has adopted a resolution substantially equivalent to this resolution setting forth the terms and conditions of this transfer of Property between School and the Commission. NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION, AS FOLLOWS: 1.The transfer of title to the 2.7 acres of the Property shall be, and hereby is, accepted. 2.The Commission hereby approves the Real Estate Purchase Agreement and deed in the forms attached hereto as Exhibit A and authorizes the President of the Commission and Secretary of the Commission to execute and attest, respectively, said Agreement in the form attached hereto, with such beneficial insertions, omissions and changes as the President and Secretary shall approve, such approval to be evidenced by the execution and attestation thereof.