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CITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. 5-,2000
. WHEREAS, the City of Carmel Redevelopment Commission ("CRC") intends to create a City
Center that will provide a balanced mixture of retail facilities, dining options, a corporate office campus, a
performing arts center,.a museum/exhibit hall, and an amphitheater (the "City Center");
WHEREAS, CRC is in the process of acquiring real estate to incorporate into the City Center;
WHEREAS, Thomas Stayer is fee simple owner of certain real estate located within the City
Center and commonly known as 1036 South Rangeline Road (the "Real Estate");
WHEREAS, CRC desires to acquire the Real Estate for incorporation into the City Center;
WHEREAS, CRC desires to enter into a Contract for Purchase of Real Estate with Thomas
Stayer (the "Purchase Contract");
WHEREAS, pursuant to the Purchase Contract: (a) the purchase price for the Real Estate
would be $495,000 (the "Purchase Price"); and (b) the obligation of CRC to purchase the Real Estate would
be subject to CRC issuing and selling bonds to fund such purchase (the "Bond Condition");
WHEREAS, CRC desires to authorize: (a) the execution of the Purchase Contract; and
(b) the acquisition of the Real Estate in accordance with, and subject to, the terms and conditions of the
Purchase Contract (including, without limitation, the Purchase Price and the Bond Condition);
NOW, THEREFORE, BE IT RESOLVED THAT:
1. CRC hereby authorizes: (a) the execution of the Purchase Contract; and (b) the acquisition of the Real
Estate in accordance with, and subject to, the terms and conditions of the Purchase Contract (including,
without limitation, the Purchase Price and the Bond Condition).
2. The members of CRC hereby are authorized to execute any and all documents required in connection
with the execution of the Purchase Contract and the acquisition of the Real Estate pursuant to the terms and
conditions of the Purchase Contract (the "Acquisition Documents").
3. The members of CRC hereby are authorized to delegate the execution of the Acquisition Documents
to appropriate representatives of CRC.
Passed by the Redevelopment Commission of the City of Carmel, Indiana, this _day of March, 2000, by
a vote of _ ayes and nays.
CITY OF CARMEL REDEVELOPMENT COMMISSION
By: By:
Susan Westermeier Richard A. Roesch
By:
Amy Jo Boldt
By:
Ronald E. Carter
By:
John R. Koven
Prepared by Wallack Somers & Haas, Special Counsel to CRC
Attest:
Diana L. Corday,
Clerk-Treasurer