12-17-2002 Council Minutes - Laserfiche WebLink

Home Browse Search

MINUTES CITY COUNCIL DECEMBER 17, 2002 PURCHASE The City Administrator reviewed the proposed purchase agreement AGREEMENT - between the owners of the Market Place Shopping Center and the City FORMER for the former DeLonais property. He also reported that George Sherman DELONAIS of Sherman Associates is still working with US Bank for the exchange of PROPERTY their current site for a new site in the redevelopment district. The Administrator pointed out that the assembly of the DeLonais site and the US Bank site will provide a highly desirable, six-acre redevelopment site. The Administrator noted that the Market Place owners are in default on their agreement for the development of the former DeLonais property. Rather than proceed through a default action, the purchase agreement provides for the City's purchase of this property for up to $410,000. The property had been sold to the Market Place owners for $375,000. The additional purchase price takes into account expenses incurred by the owners such as taxes paid on the property. It does not provide for lost interest earnings. The Administrator also pointed out that the Market Place owners have been very cooperative with the City on issues such as donation of land for the Garden Terrace Addition, donation of land for ponding purposes, the use of their property for the City's annual clean-up day. Scalze introduced the following resolution and moved its adoption: RESOI, UTION NO. 2002-12-306 -APPROVING THE PURCHASE AGREEMENT BETWEEN THE CITYAND THE MARKET PLACE OWNERS FOR THE FORMER DEI ONALS` PROPERTYAS PRESENTED, AND AUTHORIZING THE MAYOR AND CITY ADMINISTRATOR TO EXECUTE THE AGREEMENT ON73EHALF OF THE CITY The foregoing resolution was duly seconded by Montour. Ayes (4) Scalze, Montour, Anderson, Fahey. Nays (0). Resolution declared adopted. SALE OF TAX The City Administrator reported that the County had planned to place DELINQUENT apiece oftax-delinquent property that exists as Savage Lane up for PROPERTY - public auction. However, Commission Wiessner has had that property RAMSEY removed from the auction list as this time. The Administrator reported COUNTY that he would bring back a recommendation to the Council relative to this property. Fahey introduced the following resolution and moved its adoption: