HomeMy WebLinkAbout2024-R-8 Resolution Approving & Ratifying Agreement Between Clark/Floyd Convention & Tourism Bureau & Redevelopment RESOLUTION NO. 2024-R .2
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BEFORE THE JEFFERSONVILLE REDEVELOPMENT COMMISSION
STATE OF INDIANA
A RESOLUTION APPROVING AND RATIYFING AGREEMENT BETWEEN
CLARK/FLOYD CONVETION & TOURISM BUREAU AND
THE CITY OF JEFFERSONVILLE,INDIANA REDEVELOPMENT COMMISSION
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, among the Commission's general powers is to acquire and redevelop real
estate located within its jurisdiction; and
WHEREAS, the Commission has a revisionary interest in real estate located at 305 and
315 Southern Indiana Avenue("Property"); and
WHEREAS, the Property is owned by the Clark/Floyd Convention & Tourism Bureau
("Bureau"); and
WHEREAS,the Bureau has previously offered the Property at a public sale/auction; and
WHEREAS, the Bureau has negotiated a purchase agreement for the sale of the Property
to prevailing bidder at the public sale/auction; and
WHEREAS, the Commission and the Tourism have entered into the attached Agreement
("Exhibit ''A") whereby the Tourism shall execute a deed reverting the Property to the
Commission; and
WHEREAS. the parties have negotiated the attached Purchase Agreement (''Exhibit
"A"); and
NOW, THEREFORE, BE IT RESOLVED by the City of Jeffersonville
Redevelopment Commission that the attached Agreement is hereby approved and ratified; and
IT IS FURTHER RESOLVED by the City of Jeffersonville Redevelopment
Commission that the public sale/auction of the Property complies with all statutory requirements
for the offering of the Property; and
IT IS FURTHER RESOLVED by the City of Jeffersonville Redevelopment
Commission that its Executive Director is hereby authorized to execute any and all documents
necessary for the purposes of the closing on the Property provided said closing is consistent with
those terms set forth in the attached Agreement; and
IT IS FURTHER RESOLVED by the City of Jeffersonville Redevelopment
Commission that the sale proceeds from the closing shall be deposited into the Operating
Account.
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ADOPTED and APPROVED on this I 7 dayof Met-c_ ( 2024.
Scott Hawkins, resident
Jeffersonville Redevelopment Commission
ATTEST:
\/014:040/0„1/Ae,
Duard Avery, Secretary
Jeffersonville Redevelopment Commission
EXHIBIT"A"
AGREEMENT BETWEEN CLARK/FLOYD TOURISM COUNTIES CONVENTION&
TOURISM BUREAU AND THE CITY OF JEFFERSONVILLE,INDIANA
REDEVELOPMENT COMMISSION
AGREEMENT BETWEEN CLARK/FLOYD COUNTIES
CONVENTION & TOURISM BUREAU AND THE CITY OF JEFFERSONVILLE.,
INDIANA REDEVELOPMENT COMMISSION
WHEREAS, the Clark/Floyd Counties Convention & Tourism Bureau (hereinafter
"Bureau") was deeded certain property in 1996 (hereinafter the "1996 deed") from the City of
Jeffersonville Redevelopment Commission(hereinafter"Commission"). A copy of which deed is
attached herein as Exhibit A.
WHEREAS,under the 1996 deed,the Commission retained a reversionary interest in that
property should the Bureau fail to perform its statutory duty or abandon the property.
WHEREAS, the Bureau has entered into a contract for the sale of the land described in
the 1996 and a dispute has arisen between the Bureau and the Commission as to ownership of the
sale proceeds in the amount of roughly$856,000.
WHEREAS,the Bureau and Commission have negotiated this dispute with full disclosure,
with advice of legal counsel,and have been agreed to by their respective boards.
THEREFORE, the Bureau through its President, Eric Ballenger, and the Commission
through Mike Moore agree to settle this dispute according to the following terms:
1. The sale of the real property located at 305 and 315 Southern Indiana Avenue,
Jeffersonville, Indiana 47130 will continue forward.
2. The Bureau will voluntarily execute a deed reverting the property to the Commission.
3. The Commission will become seller under the currently executed Purchase Agreement, a
copy of which is attached to this agreement as Exhibit B.
4. The Commission will not attempt to negotiate, terminate, or otherwise compromise the
purchase agreement as entered.
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Mail tax bills to: 315 Illinois Avenue ��
Jeffersonville. IN 47130
Current
Tax Rey No. : A UC11y
WARRANTY DEED
THIS INDENTURE WITNESSETE that The City of Jeffersonville,
Department of Redevelopment, of Clark County in the State of
Indiana, a political subdivision organized under the provisions of
I.C. 36-7-14-3 et seq.
•
CONVEYS AND WARRANTS TO
The Clark/Floyd Counties Convention and Tourism Bureau of Clark
County in the State of Indiana, a political subdivision organized
under the provisions of I.C. 6-9-3-1 et seq, the following
described real estate:
Being all of Lot #16, part of lots #9, #10,
#11, #12,#13, #14, #15 and part of a vacated
alley in Block #20 in the City of
Jeffersonville, Clark County, Indiana and
being further described as follows:
Beginning at an iron pipe on the Northwest
corner of Illinois Avenue and Third Street
isamn dings the Southeast corner of Block #20
Thence West along the North line of Third
Street 119.0 feet to an iron pipe; thence
North 6° 24' East, 68.21 feet to an iron pipe;
thence South 76° 18' 27" Bast, 3.90 feet to an
iron pipe, thence North 13° 47' 37' East,
40.12 feet to a point; thence 18.58 feet along
the arc of a curve to the right, having a
radius of 24.00 feet and being subtended by a
long chord having a bearing of North 35° 58'
34" East, and a distance of 18.12 feet to a
point thence North 58° 09' 30° East, 21.11
EXHIBIT
4k
feet to a point; thence 24.46 feet along the
arc of a curve to the right, having a radius
of 11.50 feet and being subtended by a long
chord having a bearing of South 60* 55' 15°
East and a distance of 20.10 feet to a point;
thence South 4.27 feet to a point; thence East
3.59 feet to an iron pipe in the West line of
Illinois Avenue thence South along said West
line 319.26 feet to the place of beginning.
Containing 28,427 square feet (0.653 acre) more or lees.
Being a portion of the same property conveyed
to the Commonwealth of Kentucky by the City of
Louisville, Kentucky, by deed dated November
1, 1946, recorded in Deed Book 152, Page 465.
Being a portion of the same property acquired
by the City of Jeffersonville Department of
Redevelopment by eminent domain proceedings in
the Circuit Court of Clark County, Indiana
Cause Number 10001-9101-CP-021 deeded to the
City by Quitclaim Deed February 18, 1994,
recorded February 18, 1994 in the office of
the Recorder of Clark County, Indiana
Deed Drawer 26, Instrument No. 2341.
Subject to any and all easements and restrictions of
public record that may apply.
Subject to any state of facts an accurate
survey would reveal.
Subject to taxes due and payable in Spring, 1996 and
all subsequent taxes.
This conveyance is made pursuant to I.C. 36-7-115.1-7(A) (3) et
seq., for the general public purpose for the Convention and Tourism
Bureau to conduct the systematic attraction of visitors and guests
to the area which will have a positive economic impact on the
community, as well as to provide a Welcome Center to individuals
entering Indiana and to provide information about local
attractions, business and points of interest. If the Convention
and Tourism Bureau or its successor ceases to perform their
designated statutory function or abandons the real estate then this
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parcel shall revert to the City of Jeffersonville, Department of
Redevelopment or its successor agency. This reversion clause can
only be waived by mutual consent of each agency for a specific
purpose designated by both agencies as for the public purpose.
This conveyance is subject to the repayment of bonds issued by
the City of Jeffersonville, Department of Redevelopment on
, 1995 to NBD Banking Company from the Capital
Development Tourism Fund (I.C. 6-9-3-14(5)] .
Dated thisb day of , 19 .
THE CITY OF JEF'FERSONVILLE
ec By:
STATE OF INDIANA)
)SS:
COUNTY OF CLARK )
Before me, the undersigned, a Notary Public for said County
and State, perso ly appeared a a representative for The City of
Jeffersonville jg y and acknowledge the execution
of he foregoing ranty Deed, this o -day of ��
19 ,
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L.„Msed State of Indiana ary Ai.e.,- '' "'
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This Instrumsn -spared By' +4.y,sK= tz�
John R. Visaing
a _".�,:.-::r;¢".'
Attorney at Law a ;r.,
Jefferson Hall
432 East Court Avenue
P.O. Box 187
Jeffersonville, IN 47131-0187
(812) 288-5141
PURCHASE AGREEMENT *This is a legal binding contract. DATE December 12,2023
TO SELLER:Clark-Floyd Counties Convention and Tourism Bureau
I/We hereby agree to purchase the property known as 305&315 Southern Indiana Avenue,Jeffersonville,IN 47130 located in
Clark County,Indiana (Parcels#10-19-00-100-459.000-010&10-19-00-100-414.000-010))for the purchase price of($941,600.00)
Nine hundred forty one thousand six hundred dollars payable as follows: SALE BY DEED A NON-REFUNDABLE down payment
of($94,160.00)Ninety four thousand one hundred sixty dollars payable within 24 hours with the balance of the purchase price
to be paid in cash at closing upon delivery of clear title.
The completion of this transaction is not based upon the condition of successfully obtaining financing.
CLOSING The closing of this transaction to be on or before January 22,2024.If closing is not obtained within the time specified
above,this agreement shall terminate,and down payment is forfeited.A reasonable extension of time is granted,not to exceed 10
days,only in case of delay In the correction of title defects.If the seller is unable to provide a clear title,this agreement shall
terminate,and down payment is returned in full to the buyer.
TITLE EVIDENCE Sellers will provide clear title via deed subject to public and private easements,and encumbrances of record.
Cost of title evidence as desired by the buyer to be a buyer's expense.All closing costs to be a buyer's expense.
REAL ESTATE TAXES AND ASSESSMENTS Property is currently tax exempt.The buyer will resume responsibility for all future taxes
and assessments beginning the day of closing.
POSSESSION The possession of Real Estate shall be given no sooner than February 1,2024.
THIS PROPERTY IS BEING PURCHASED"AS IS"WITH NO WARRANTIES expressed or implied by the seller and/or personal
representative and the auction company.Title to the real estate is being conveyed with any and all restrictive covenants and any
recorded or visible easements for a public road,utilities,or public purposes(easements)upon which existing improvements do
not encroach on which there are no violations.The risk of loss or damage to buildings by fire or otherwise,until delivery of the
deed,is assumed by sellers. If all or substantial portions are so destroyed prior to delivery of the deed,this agreement at the
election of the buyer shall not be binding upon the buyer and in such an event,the non-refundable down payment shall be
returned to the buyer.
FLOOD DESIGNATION Buyer may not terminate the agreement if the property is in an area that may require flood insurance or
that Is subject to building or use limitations by reason of such location.The buyer shall pay for and be responsible for flood
certification.FEMA records indicate property is located in Area With Reduced Flood Risk Due to Levee-Flood Zone X.
NATIONAL REGISTER OF HISTORIC PLACES
The Louisville Municipal Bridge Building located at 315 Southern Indiana Avenue,Jeffersonville,IN is on the National Register of
Historic Places,System ID 84001578.
INDEMNIFICATIONS AND RELEASE Buyer hereby releases the seller and/or representative and the auction company herein from
any and all liability relating to any defect or deficiency affecting said real estate,which releases given by this paragraph shall
survive the closing of this transaction. Buyer has made all inspections,investigations&inquiries PRIOR TO AUCTION and agrees
to purchase the property"as is and where is". The buyer acknowledges the possibility of lead-based paint,If applicable,and
hereby waives the 10-day inspection period. Property is being purchased with no contingencies. All square footage
Page 1 of 2
Purchase Agreement EXHIBIT
The Harritt Group,Inc. //812-944-0217//harrittgroup.com
measurements and lot size are per courthouse records and are not guaranteed by the seller and/or representative,or the auction
company.
AGENCY The Harritt Group,Inc.is acting exclusively as an agent for the seller.
The Harritt Group,Inc.hereby acknowledges receipt of the 10%Non-Refundable Down Payment in the amount of
$ ?qf � by Wire on I✓ A2-C Bank and held in the Harritt Group
Escrow Account till closing of this transaction.
If Buyer(s)fails to complete the purchase,the Down Payment will be forfeited;this provision shall not deprive seller(s)of any other
legal or equitable remedy available under the law.In the event of default by the Buyer,the deposit shall be forfeited as liquidated
damages.Said deposit shall be divided equally between Seller and Auctioneer/Broker after reimbursement of all advertising and
promotion expenses.Should any party to this Purchase Agreement default and the non-defaulting party brings an action to
enforce this agreement,then,in that event,the Non-Defaulting party shall be entitled to collect reasonable attorney fees and
court costs in enforcing this Purchas greement.
141
Dou Harritt,Auction Buyer ent(If Applicable)
Harritt roup,Inc.(812)944-0217 � 1.L)�AOe
(fi r, r `�L ```' 1
As a buyer(s)I/We make this offer in goad faith based entirely upon the results of my/our own examination.
BUYER:NB-Develop,LLC
rL_ )2- 23
Shane Uttich,Member Date
501 Pearl Street
New Albany,IN 47150
502-494-2004
shane@nb-develop.com
As Seller,I hereby accept and agree to sell the above real estate on these terms and agree to pay The Harritt Group,Inc.,a fee in
accordance with the current contract to sell the above described real estate.
SELLER:Clark-Floyd Counties Convention and Tourism Bureau
a-/11./2- 3
es Epperso ecutive Director Date
Page 2 of 2
Purchase Agreement
The Harritt Group,Inc //812-944-0217//harrittgroup.com
5. In consideration for the added time and expense, the Commission will give an allowance
of$5,000 to the buyer for additional attorney fees, costs incurred during the pendency of
this dispute,and for the extensions provided.
6. At closing, the Bureau will be issued a check in the amount of$455,000 from the closing
agent.
7. The Commission will retain the balance of the sale proceeds, estimated to be about
$396,000.
SO AGREED THIS 7 day of " L ,2024.
Eric Ballenger, President of Board of Jeffersonville Red veld lent Commission
Managers, Clark/Floyd Counties Convention By: wt'r-
&Tourism Bureau