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HomeMy WebLinkAboutCRC-2010-13 Installment Purchase Aggrement/CFP/IN Energy Center/Carmel RESOLUTION NO. ;DO l3 RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION ADJUSTING THE OFFERING PRICE OF CERTAIN PROPERTY, APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF A PROPOSED INSTALLMENT PURCHASE AGREEMENT BETWEEN CFP CARMEL, INDIANA ENERGY CENTER, LLC, AND THE CITY OF CARMEL REDEVELOPMENT COMMISSION, AND AUTHORIZING CERTAIN MATTERS RELATED THERETO WHEREAS, Indiana Code Sections 36 -7 -14 -12.2 and 36- 7 -14 -22 authorize the City of Carmel Redevelopment Commission, a redevelopment commission organized under Indiana Code Section 36- 7- 14 -3(a) (the "Commission (a) to offer for sale to the public any of the real property acquired by the Commission, by (i) preparation of an offering sheet showing the parcels to be offered and the offering prices and (ii) publication of a notice that the Commission will open and consider written offers for the purchase of such real property, and (b) after the opening and consideration of the written offers filed in response to such notice, (i) to dispose of the remainder of the available real property by private negotiation and (ii) after a period of 30 days after the opening of such written offers, to adjust the offering prices iri the manner the Commission considers necessary to further the redevelopment plan; and WHEREAS, the Commission offered for sale to the public the Property (as hereinafter defined), by (a) preparation of an offering sheet showing the parcels to be offered and the offering prices (the "Offering Price and (b) publication of a notice that the Commission will open and consider written offers for the purchase of the Property, but received no written offers filed in response to such notice; and WHEREAS, the Commission desires (a) to dispose of the Property by private negotiation and (b) it being more than 30 days after the opening of such written offers, to adjust the Offering Price in the manner the Commission considers necessary to further the redevelopment plan; and WHEREAS, Indiana Code Sections 36 -7 -14 -12.2 and 36- 7 -14 -19 authorize the Commission to contract for the acquisition of property; and WHEREAS, the Commission desires to contract for the acquisition of the "Project as defined in the Installment Purchase Agreement between the Commission and CFP Carmel, Indiana Energy Center, LLC (the "Company"), dated as of November 1, 2010 (the "Installment Purchase Agreement the form of which has been presented to the Commission (such Project, the "Property"); and WHEREAS, the Commission has procured two independent appraisals of the fair market value of the Property (the "Appraisals and WHEREAS, the Commission has prepared the following list of the real property and interests in real property to be acquired and the price to be offered to the owner of each parcel of interest: real property price Property average of Appraisals (the "List and WHEREAS, the price set forth in the Installment Purchase Agreement may exceed the price indicated on the List; NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL REDEVELOPMENT COMMISSION AS FOLLOWS: 1. The Cannel Redevelopment Authority, a redevelopment authority organized under Indiana Code Section 36- 7- 14.5 -7 (the "Authority shall transfer to the Commission, and the Commission shall acquire from the Authority, any and all right, title and interest of the Authority in and to the Property, without charge. 2. The Commission hereby adjusts the Offering Price to any amount approved by the President or Vice President of the Commission, such approval to be conclusively evidenced by such officer's execution of an instrument conveying the Property to any person for a price equal to such amount. 3. The Commission hereby finds and determines that the acquisition of the Property is needed for the redevelopment or economic development of (a) the City Center Redevelopment Area (91604 and 91604E), (b) the 126 Street Corridor Economic Development Area (91603 and 91603E), (c) the Old Town Economic Development Area (91610), (d) the Carmel Drive Allocation Area (91616), (e) the Lauth Walker Economic Development Area (91617), (f) the Old Town Shoppes Economic Development Area (91618), (g) the Old Methodist Economic Development Area (91620), (h) the Lurie Economic Development Area (91621), (i) the National City Economic Development Area (91627), (j) the Village of West Clay Economic Development Area (91629), (k) the Old Meridian Expansion Economic Development Area (91609 and 91609E), (1) the Illinois Street Economic Development Area and Expansion Areas (91608, 91608E and 91625), (m) the Hazel Dell North Economic Development Area (91612) and (n) the Hazel Dell South Economic Development Area (91611). The Commission hereby further finds and determines that the Property will be located in the City Center Redevelopment Area, and that it will directly serve and benefit each of the redevelopment areas and economic development areas identified in (b) through (n) above. 4. The Commission hereby approves and adopts the List. 5. The Commission hereby specifically authorizes the price set forth in the Installment Purchase Agreement. 6. The Commission hereby approves and accepts the Installment Purchase Agreement. 7. The Commission hereby directs that payment for the Property be made when and as set forth in the Installment Purchase Agreement. 2 8. The Commission hereby determines that: (a) the compatibility of equipment, accessories or replacement parts is a substantial consideration in the purchase of the Property, and only one source meets the Commission's reasonable requirements; and (b) there is only one source for the Property. 9. The President or Vice President of the Commission is hereby authorized and directed, for and on behalf of the Commission, to execute and deliver the Installment Purchase Agreement in substantially the form presented at the meeting, with such changes in form or substance as the President or Vice President of the Commission shall approve, such approval to be conclusively evidenced by the execution thereof. 10. The President, Vice President or Secretary of the Commission is hereby authorized and directed, for and on behalf of the Commission, to execute and deliver any instruments (including without limitation any certificate purchase agreements, limited offering memoranda, continuing disclosure agreements, extension and retrofitting work contracts and operating agreements) and take any other actions as are desirable to carry out the transactions contemplated by this Resolution, such desirability to be conclusively evidenced by the execution of such instruments or the taking of such other actions, and any and all such instruments heretofore executed and delivered and any and all such other actions heretofore taken be, and hereby are, ratified and approved. 11. This Resolution shall be in full force and effect upon adoption by the Commission. 3 ADOPTED this 25`" day of October, 2010. CITY OF CARMEL REDEVELOPMENT COMMISSION President A44.1 14 1k0/ 4 Vic- 'resident Secretary Memb: Member INDSOI NWS 1233041v3 4