HomeMy WebLinkAboutCRC-14-2004
CITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO.
Conrad Building Acquisition
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 Conrad Building, LLC ("Conrad Building")
and located at 31 East Main Street (the "Conrad Building 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 Conrad Building Property;
WHEREAS, the average of the two independent appraisals of the fair market value of the
Conrad Building Property is $262,500.00 (the "Average Value");
WHEREAS, the Property List sets forth, or shall set forth, prices for acquisition of the
Acquisition Properties (the "Acquisition Amounts');
WHEREAS, the Acquisition Amount for the Conrad Building Property is, or shall be, the
Average Value;
WHEREAS, CRC desires to acquire the Conrad Building Property for redevelopment;
WHEREAS, CRC intends to attempt to negotiate an agreement with Conrad Building for the
acquisition of the Conrad Building Property for an amount not greater than the Average Value;
WHEREAS, in the event that CRC is unable to negotiate an agreement with Conrad Building
for the acquisition of the Conrad Building Property, CRC intends to acquire the Conrad Building Property by
the exercise of the power of eminent domain;
WHEREAS, CRC desires to confirm that: (a) the Property List includes the Conrad Building
Property; and (b) the Acquisition Amount for the Conrad Building Property is the Average Value; and
WHEREAS, CRC desires to adopt a resolution that: (a) permits it to negotiate an agreement
with Conrad Building for the acquisition of the Conrad Building 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 Conrad Building for the
acquisition of the Conrad Building Property, sets out its determination to exercise the power of eminent
domain with respect to the acquisition of the Conrad Building Property;
NOW, THEREFORE, BE IT RESOLVED THAT:
1. CRC hereby confirms that: (a) the Property List includes the Conrad Building Property; and (b) the
Acquisition Amount for the Conrad Building Property is the Average Value;
2. CRC is permitted to negotiate an agreement with Conrad Building for the acquisition of the Conrad
Building 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 Conrad Building for the acquisition
of the Conrad Building 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 Conrad Building Property.
Passed by the Redevelopment Commission of the City of Carmel, Indiana, this _ day of April, 2004, by a
vote of 3 ayes and 0 nays.
CITY OF CARMEL REDEVELOPMENT COMMISSION
By:
Richard Sharp
rt at real
By:
mothy Mar all
Prepared by Wallack Somers & Haas, Counsel to CRC
By:
QnRonald d But
B .?
Carter