HomeMy Public PortalAbout003-2006 - Authorizing sale to Rose City.CarpentBOARD OF PUBLIC WORKS AND SAFETY
OF THE CITY OF RICHMOND, INDIANA
RESOLUTION NO. 3 -2006
A RESOLUTION AUTHORIZING THE SALE OF REAL ESTATE
WHEREAS, The Board of Public Works and Safety ( "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 May 3, 2005, the City of Richmond, Indiana, acquired the real
estate located at 1100 Industries Road, Richmond, Indiana, and
described in Exhibit A, by virtue of a Sheriff's Deed dated April
14, 2005 and recorded on May 3, 2005, as Instrument Number
2005004582 in the offices of the Recorder of Wayne County,
Indiana, consisting of approximately 91.788 acres, more or less;
and
WHEREAS, The City of Richmond, Indiana entered into a Purchase Agreement
with Ground Level Properties, LLC, on November 23, 2005, to
purchase the real estate described in Exhibit A from the City of
Richmond, Indiana, said property is located at 1100 Industries
Road, Richmond, Indiana, and being legally described in Exhibit
A, for the sum of One Million Five Hundred Thousand and Ten
Dollars ($1,500,010.00); and
WHEREAS, Ground Level Properties, LLC, has deposited earnest money in the
sum of One Hundred Fifty Thousand Dollars ($150,000.00) with
the City of Richmond, Indiana; and
WHEREAS, On January 19, 2006, Ground Level Properties, LLC, conveyed to
Rose City Business Park, L.L.C., its interest in the former
Carpenter property located at 1100 Industries Road, Richmond,
Indiana and described in Exhibit A; and
WHEREAS, A Warranty Deed, attached as Exhibit `B ", has been prepared
conveying to Rose City Business Park, L.L.C., the real estate
located at 1100 Industries Road, Richmond, Indiana and described
in Exhibit "A "; and
WHEREAS, An Environmental Restrictive Covenant has been prepared by the
Indiana Department of Environmental Management (IDEM) and
will be recorded prior to the execution of the conveyance of the
real estate from the City of Richmond, Indiana to Rose City
Business Park, L.L.C.; and
WHEREAS, Rose City Business Park L.L.C. has complied with, or will comply
with, all provisions and requirements of the Purchase Agreement
dated November 30, 2005 and is entitled to have the real estate
described in Exhibit A transferred to it; and
WHEREAS, Rose City Business Park, L.L.C. is duly authorized to take all
action and has or will properly and timely execute all documents
necessary to purchase the subject real estate set forth in Exhibit A
and located at 1100 Industries Road, Richmond, Indiana; and
WHEREAS, The closing on the real estate set forth in Exhibit A and located at
1100 Industries Road, Richmond, Indiana, is presently scheduled
for Monday, January 23, 2006, at 1:00 p.m., at which time the real
estate located at 1100 Industries Road, Richmond, Indiana, will be
conveyed to Rose City Business Park, L.L.C., upon compliance
with all terms of the Purchase Agreement and upon receipt of the
balance of the remaining $1,350,010.00 from Rose City Business
Park, L.L.C. for the completion of the Purchase Agreement entered
into by Ground Level Properties, LLC, the prior purchaser to Rose
City Business Park, L.L.C., and the City of Richmond.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS
AND SAFETY OF RICHMOND, INDIANA, that said Board approves, subject to the
requirements necessary for the conveyance of said property, with said requirements to be
determined and approved by the Law Department of the City of Richmond, to convey the
real estate described in attached Exhibit A and located at 1100 Industries Road,
Richmond, Indiana, to Rose City Business Park, L.L.C., for the total sum of One Million
Five Hundred Thousand Ten Dollars ($1,500,010.00), of which sum One Hundred Fifty
Thousand Dollars ($150,000.00) has already been received in the form of a security
deposit, upon receipt from Rose City Business Park, L.L.C., of the remaining One
Million Three Hundred Fifty Thousand and Ten Dollars ($1,350,010.00).
NOW FURTHER BE IT RESOLVED BY the Board of Public Works and Safety of
Richmond, Indiana, that the Board President, John P. Kenny, for and on behalf of the
City of Richmond, Indiana, acting through its Board of Public Works and Safety of
Richmond, Indiana, be authorized to sign the Warranty Deed conveying the real estate set
forth in Exhibit "A" to Rose City Business Park, L.L.C., and to sign any and all other
documents necessary or required to effectuate the sale and transfer of the real estate
located at 1100 Industries Road, Richmond, Indiana, and set forth in Exhibit "A" to Rose
City Business Park, L.L.C.
NOW FURTHER BE IT RESOLVED by the Board of Public Works and Safety of
Richmond, Indiana, that the City Attorney, Walter S. Chidester, or the Assistant City
Attorney, Kenyatta P. Cox, and Mayor Sally L. Hutton be authorized to take all other
action necessary (including, but not limited to, signing any and all documents) to
effectuate the sale, transfer and closing of the real estate located at 1100 Industries Road,
Richmond, Indiana and set forth in Exhibit "A" from the City of Richmond, Indiana to
Rose City Business Park, L.L.C.
THIS RESOLUTION IS ADOPTED THIS 19TH DAY OF JANUARY, 2006.
City of Richmond
Board of Public Works and Safety
S/S John P. Kenny
John P. Kenny, Chairman
S/S Dian Lawson
Dian Lawson
S/S Mary Jo Flood
Mary Jo Flood