HomeMy Public PortalAbout003-2005 - authorizing transfer of Elder Beerman property).BOARD OF PUBLIC WORKS AND SAFETY
OF THE CITY OF RICHMOND, INDIANA
RESOLUTION NO. 3 -2005
A RESOLUTION AUTHORIZING THE TRANSFER OF LAND
WHEREAS, The Board of Public Works and Safety of Richmond, Indiana ( "Board ") is
the disposing agent for real property owned and to be transferred or
acquired by the City of Richmond, Indiana ( "City ") pursuant to the
provisions of Indiana Code (IC) 36 -1 -11, et. Seq. (the "Act "); and
WHEREAS, On March 14, 1973, the City of Richmond, Indiana, entered into an
Indenture of Lease between the City of Richmond as Lessor and The
Elder - Beerman Stores Corp. as Lessee concerning real estate located at
601 East Main Street, Richmond, Indiana, said real estate containing
approximately 1.5019 acres; and
WHEREAS, the real estate located at 601 East Main Street, Richmond, Indiana,
containing approximately 1.5019 acres, more or less, is owned by the City
of Richmond, Indiana, by virtue of a Warranty Deed recorded on February
28, 1969 in Deed Book 344 page 205 of the records of the Recorder of
Wayne County, Indiana, and a legal description of said real estate is
attached hereto and incorporated herein by reference as Exhibit "A "; and
WHEREAS, said March 14, 1973 Indenture of Lease was for a period of thirty (30)
years and, in Section 9.1 of said Indenture of Lease, Lessee The Elder -
Beerman Stores Corp. had the option to purchase, for an amount of money
sufficient to retire the outstanding revenue bonds (issued on account of the
construction of said facility) and the payment of all expenses necessitated
thereby, the subject real estate set forth in Exhibit "A ", at which time
Lessor City of Richmond would convey to Lessee good and marketable to
the property; and
WHEREAS, The Elder - Beerman Stores Corp. has complied with all provisions and
requirements of the March 14, 1973 Indenture of Lease between the City
of Richmond and The Elder - Beerman Stores Corp., including, but not
limited to, the retirement of all outstanding revenue bonds issued for the
construction of a facility on the subject real estate, and the payment of all
expenses necessitated thereby, and is entitled to have the real estate
described in Exhibit "A" transferred to it
WHEREAS, The Elder - Beerman Stores Corp. is duly authorized to take all action. and
has properly and timely exercised its option to purchase the subject real
estate set forth in Exhibit "A ".
NOW, THEREFORE, BE IT RESOLVED by the Board of Public Works and
Safety of Richmond, Indiana that said Board approves the transfer of the land described
in attached Exhibit "A" to The Elder - Beerman Stores Corp. for the sum of One Dollar
($1.00) and other valuable consideration, the receipt of which is hereby acknowledged.
THIS RESOLUTION IS ADOPTED THIS day of December, 2005.
Board of Public Works and Safety
of Richmond, Indiana
John P. Kenny, Chairman
Dian Lawson
Mary Jo Flood
EXHIBIT "A"
Being Lots 105, 106, OM 288 and 289, and part of Lots 109, 150, OM 290 of John
Smith's Addition, and Lot 1 and part of Lot 2 of Caleb Bond's Addition to the City of
Richmond, Wayne County, Indiana, and more particularly described below:
Commencing at a monument at the Southeast corner of 7 th & Main Street;
thence south 0 degrees 0 minutes and 0 seconds east 278.00 feet along the
monument line; thence north 89 degrees 58 minutes 00 seconds west
61.000 feet to the place of beginning of this description: thence north 0
degrees 0 minutes 0 seconds east 97.00 feet along the west right -of -way
line of South 7 th Street to a point on the south side of an alley; thence
north 89 degrees 58 minutes 00 seconds west 82.051 feet along the south
line of said alley to a point; thence north 0 degrees 3 minutes 47 seconds
west 18 1. 000 feet to a point on the south line of Main Street; thence north
89 degrees 58 minutes 00 seconds west 193.550 feet along the said line to
a point; thence south 5 degrees 21 minutes 0 seconds west 279.201 feet
along the east right -of -way line of South 6 th Street to a point; thence south
89 degrees 58 minutes 00 seconds east 301.833 feet to the place of
beginning, containing an area of 1.5019 acres, more or less.