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Home My WebLink AboutCC-07-21-97-05 Transf Land CRARESOLUTION A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CAR_MEL AUTHORIZING THE TRANSFER OF INTERESTS IN REAL ESTATE TO THE CITY OF CARMEL REDEVELOPMENT AUTHORITY WHE~, the. City of Cannel Redevelopment Amhority (the "Authority") intends to issue its County Option Income Tax Lease Rental Revenue Bonds of 1997 (the "Bonds") to finance certain road improvements in or serving the City of Carreel (the "Projects"); and WHEREAS, the Projects are to be constructed on the real estate described in Exhibit A hereto (the "Real Estate"); and WHEREAS, the City of Carreel (the "City") now owns or will acquke the necessary interests in the Real Estate to implement the Projects; and WitF~S, the City desires to sell ks interests in the Real Estate to the Authority to permit the Authority to use the proceeds of the Bonds to construct the Projects thereon; and WHEREAS, the parties have determined that a fair price for the sale of the Real Estate is $7,158,000, based upon amounts expended by the City for new fights-of-way and the estimated replacement cost of existing roads; NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Carmel, Indiana, that: 1. Pursuant to I.C. 36-1-11-8, the City shall transfer all of the City' s interests in the Real Estate to'the Authority in exchange for a purchase price of $7,158,000 (the "Purchase Price"), payable to the City upon the closing of the issuance of the Bonds. 2. The portion of the Real Estate that is currently owned by the City shall be conveyed to the Authority upon receipt by the City of the Purchase Price. The remaining portions of the Real Estate shall be conveyed by the City to the Authority as and when the City acquires each such portion. 3. The Mayor, Clerk-Treasurer and other appropriate officers of the City are hereby authorized to take all such actions and execute all such instruments as are necessary or desireable to effectuate the transfer of the Keal Estate on the terms described above. PASSED by the Common Council of the City of Carmel, Indiana this ~)~_~day of ~~, 1997, by a vote of ~ ayes and ~ nays. ~ ' zoo~ L6/VI/LO COMMON COUNCIL FOR THE CITY OF CARMEL · . - --s,--, yder ' ' ~" ' I ATTEST: Diana L. Cordray, Clerk-Treasur ~,~ Presented by me to the Mayor of the City of Carmel, Indiana on this ~ da of 1997 at//'~ /5 o' clock~~.m. ~ ' Y ' Diana L. Cordray, Clerk-Treasurer Approved by me, Mayor of the City of Carreel, Indiana, this _~ day of 4 ~/, 1997 at / /; /6 o' clock~_,~.m. la nard, Mayor ATTEST: Diana L. Cordray, Clerk- IN!I~I ~DD21|~Ie -2- ~oo~ XVH ~I:91NO~ 16/~IIZ0 Exhibit A Hazel Dell Parkway Boundary Description 961h Street to 1461h Street A part of Scction 9, Township 17 Nortit, Range 4 East, a part of Section 4, Township 17 Norfit, Range 4 East, a part or Section 33, Township 18 Norill, Range 4 East, a part of Section 34, Township 18 Norfit, Range 4 East, a part of Section 28, Township I8 North, Range 4 East, a part of ,~.ctlon 27, TOwnship 18 North, Pltage 4 Enst, n part of Section 21, Township 18 North, Range 4 East, and a part of Section 22, Township 18 Norfix, Range 4 East lying in Clay Tournship, Hamilton County, Indiana and g~n~rally der, ctib~d an follows: A par~l of !and varying in width from a mininlum of approximately 85 feet to a maximum of approximately 200 feet lying on either side of the centerline of rile pmposod Hazel Dell Parkway project and extending froth 96m Street to 146th Street, said centerline more particularly described as follows: Beginning at a point on 96a' Strcct approxjsnately 25 feet %vest of and 31 feet north of tim sougheast comer of the southwest quarter of said s~'ction 9; thence northerly approximately 1200 feel; thence northeasterly approximately 1100 feet; thenc= north-northeasterly appro.v. jmately 3400 feet to the north line of said section 9; thence noaheasterly approximately 1800 feet; thence north-norfilwestsrly approximately 3900 feet to the north line of said section 4, said section line also being the centerline of 116a' Street; thence north-norfilwestcrly approximately 1000 fcet; thence north-northeasterly approximately 3000 feet; thence northerly approximately 12,100 feet to the northeast comer or said section 21, said point also being in the centerline of 146.h Street and the terminus of project centerline. Also included in rite right-of %vay boundary are areas of east-west street fights-or-way extending up to npproximately 500 feet in either or both directions at their intersection with Hazel Dell Parkway, including 106u' Sixeel. 116~h Street, 126m Street, 131't Street and 146m Street. TIle total project is approximately 5.2 miles in leng~a and will include boot city owned right-of-way and easemetals. ~0o ~ xvd 61:91NO~ Z6/PI/Lo Pennsylvania Street Boundary Descriptio. Road ln~provements from 103~d Street to 131't Street A part of Section 11, Township 17 North, Range 3 East, part of Sectlon 2, Townsltip 17 Nortit, Range 3 East. part of Section 35, Township 18 Nortit, Range 3 East, and a part of Section 26, TownsiLip 18 North, Range 3 East, lying in Clay Township, Hantilton County, Indiana, and generally described as follows: A parcel of land varying in width from a minimum of approximately 90 feet to a maxiinum of approximately 120 feet lying on either side of file centerline of rite proposed Pennsylvania Street project and extending from 103~ Street to 13 1a Street, said centerline more particularly described as follows: Beginning at the intersection of tile centerline of 10Yd Street and the west quarter-section line of tile northeast quarter of the said Section 11; thence nortit along said quarter-section line approxi3natcly 1275 feet; thence north-northwesterly approxiinately 520 feet; thence northerly approximately 207 {'cet to the north line orsaid section 11, said line also being the south line orsaid section 2; thence northerly approximately 1126 feet; thence north-northeasterly approximately 465 feet; thence northerly '. approximately 1084 feet to the nonit line of the southwc.st quarter or said section 2; thence amrth- northeasterly approximately 500 feet; thence northeasterly approximately 767 feet; thence northerly approximately 1400 feet to the nortit line of the northeast quarter orsaid section 2; thence north- northeasterly approximately 348 feet; thence north-northeasterly approximately 1456 feet; ti~ence nortit- northwesterly approximately 300 feet; thence north-northeasterly approximately 5 17 feet to the north line of the southwest quarter or said section 35; thence north-northeasterly approximately 2622 feet to the nortit line or the northwest quarter orsaid section 35; ~cnce northerly approximately 987 feet; thence north-northwesterly approximnlcly 23 1 feet; thence northerly approximately 8 13 feet; tirenee nortit- northwesterly approxitnatcly 246 feet; thence northerly approximately 363 feet to the north line of the soutitwest quarter or said section 26, which is ate terminus or the project centerline, also being in the centerline or the existing 13 1"t Street. Also included in the right-or-way boundary arc areas or cast-w~st street righis-or-way extending up to 500 feet in betit directions at their respective intersections with the Pennsylvania Street, including 10Y~ Street, 106m Street, 111m Street, 116t" Street, Old Meridian Street, Carreel Drive and 13 1't Street. The total project is approxitnately 2.9 miles in lengdt and will include both city owned right-of-way and P~IS~IfleHIS. ~ooI~ XVd 6I:9I NO~ ~6/~I/ZO