HomeMy WebLinkAbout2017-R-4 RESOLUTION NO. 2017-R-4
BEFORE THE JEFFERSONVILLE REDEVELOPMENT COMMISSION
STATE OF INDIANA
A RESOLUTION DESIGNATING ARC PROPERTY INVESTMENT LLC AS
DEVLOPER FOR COLSTON PARK DEVELOPMENT PROJECT AND
APPROVAL AND RATIFICATION OF DEVELOPMENT AGREEMENT
WHEREAS, the City of Jeffersonville Redevelopment Commission (the "Commission"),
was created for the purpose of undertaking economic development and redevelopment projects in
the City of Jeffersonville ("City") pursuant to I.C. 36-7-14 and I.C. 36-7-25; and
WHEREAS, the Commission desires to develop certain property it owns that is
commonly the "Colston Park Development" project ("Project") located on Mulberry Street in the
City; and
WHEREAS, the Commission has complied with all statutory requirements for the
offering of said property; and
WHEREAS, the Commission has undertaken and completed a selection process for a
developer of the Project; and
WHEREAS, after consideration of all relevant factors concludes that Arc Property
Investment, LLC should be chosen as the developer of the project; and
WHEREAS, the parties have negotiated the attached Development Agreement ("Exhibit
"A"); and
NOW, THEREFORE, BE IT RESOLVED by the City of Jeffersonville
Redevelopment Commission that Arc Property Investment, LLC is hereby designated as the
developer for the Colston Park Development Project; and
IT IS FURTHER RESOLVED by the City of Jeffersonville Redevelopment
Commission that the Development Agreement is hereby approved and ratified.
ADOPTED and APPROVED on this 3P day of August, 2017.
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l R. Monty Snel ' g, eside
Jeffersonvill evelopm mmission
ATTEST:
Matt wen, Secretary
Jeffersonville Redevelopment Commission
EXHIBIT "A"
(EXECUTED DEVELOPMENT AGREEMENT)