HomeMy WebLinkAboutCRC-11-1998 CVS PropertyCITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. ))-)99S
WHEREAS, the City of Carmel Redevelopment Commission ("CRC") intends to create a City
Center that will provide a balanced mixture of retail facilities, a movie theater, dining options, a corporate office
campus, a performing arts center, a museum/exhibit hall, and an amphitheater (the "City Center");
City Center,
WHEREAS, CRC is in the process of acquiring real estate that will be incorporated into the
WHEREAS, CRC acquired from American United Life Insurance Company certain real estate
that is located within the City Center (the "Real Estate") for incorporation into the City Center,
Lease");
WHEREAS, the Real Estate is subject to a lease under which CVS is the tenant (the "CVS
WHEREAS, the CVS Lease expires August 31, 2000;
WHEREAS, CRC desires to terminate the CVS Lease so that CRC immediately can begin
construction of the City Center on the Real Estate; and
WHEREAS, CRC and CVS desire to terminate the CVS Lease upon payment by CVS of
$56,025.00;
NOW, THEREFORE, BE IT RESOLVED:
1. That the CVS Lease shall be terminated upon payment by CVS of $56,025.00.
2. That the members of CRC hereby are authorized to execute any and all documents required in
connection with the termination of the CVS Lease (the 'Termination Documents").
3. That the members of CRC hereby are authorized to delegate the execution of the Termination
Documents to appropriate representatives of CRC.
Passed by the Redevelopment Commission of the City of Cannel, Indiana, this,?4 day of March, 1998, by
a vote of /,-' ayes and e9 nays.
CITY OF CARMEL REDEVELOPMENT COMMISSION
Susan Westerrneier Richard A. Roesd1h
Ron Carter
ATTEST:
DATE:
Prepared by Baker & Daniels, Special Counsel to CRC