HomeMy WebLinkAboutCRC-8-2003 KLC, LLP Blighted AreaCITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. 9-90'93
WHEREAS, the City of Carmel Redevelopment Commission ("CRC') is in the process of
redeveloping blighted areas in the City of Carmel, Indiana;
WHEREAS, in accordance with IND. CODE §36-7-14-19(b), and as evidenced by minutes of
previous CRC meetings, CRC has approved and adopted a list (the "Property List") of the real property that
may be acquired for redevelopment (the "Acquisition Properties");
WHEREAS, certain property currently owned by KLC, LP ("KLC") and located at 200 South
Rangeline Road (the "KLC Property") is one of the Acquisition Properties;
WHEREAS, CRC has caused there to be completed two independent appraisals of the fair
market value of the KLC Property;
WHEREAS, the average of the two independent appraisals of the fair market value of the KLC
Property is $785,000.00 (the "Average Value");
WHEREAS, the Property List sets forth, or shall s et f orth, prices for acquisition of the
Acquisition Properties (the "Acquisition Amounts');
WHEREAS, the Acquisition Amount for the KLC Property is, or shall be, the Average Value;
WHEREAS, CRC desires to acquire the KLC Property for redevelopment;
WHEREAS, CRC intends to attempt to negotiate an agreement with KLC for the acquisition
of the KLC Property for an amount not greater than the Average Value;
WHEREAS, in the event that CRC is unable to negotiate an agreement with KLC for the
acquisition of the KLC Property, CRC intends to acquire the KLC Property by the exercise of the power of
eminent domain;
WHEREAS, CRC desires to confirm that: (a) the Property List includes the KLC Property; and
(b) the Acquisition Amount for the KLC Property is the Average Value; and
WHEREAS, CRC desires to adopt a resolution that: (a) permits it to negotiate an agreement
with KLC for the acquisition of the KLC Property for an amount not greater than the Average Value; and (b) in
the event that it is not able to negotiate an agreement with KLC for the acquisition of the KLC Property, sets
out its determination to exercise the power of eminent domain with respect to the acquisition of the KLC
Property;
NOW, THEREFORE, BE IT RESOLVED THAT:
1. CRC hereby confirms that: (a) the Property List includes the KLC Property; and (b) the Acquisition
Amount for the KLC Property is the Average Value;
2. CRC is permitted to negotiate an agreement with KLC for the acquisition of the KLC Property for an
amount not greater than the Average Value; and
3. In the event that CRC is not able to negotiate an agreement with KLC for the acquisition of the KLC
Property for an amount not greater than the Average Value, CRC is permitted to exercise its power of eminent
domain with respect to the acquisition of the KLC Property.
Passed by the Redevelopment Commission of the City of Carmel, Indiana, this Zfday of November, 2003,
by a vote of j ayes and _0 nays.
By
CITY OF CARMEL REDEVELOPMENT COMMISSION
RicFiardharp
By:
Robert Battreal
By:
John Koven
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Prepared by Wallack Somers & Haas, Counsel to CRC