07-22-87 Council Minutes - Laserfiche WebLink

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MINUTES City Council July 22, 1987 Thunder The City Clerk estimated the special assessments on the property at Bay TIF $700 and cost of abstracting, State Deed Tax and mortgage registration (Cont.) at $300 to $400. Wilson noted that it is typical when a housing authority purchases a property that the authority pays abstracting, mortgage registration and State Deed Tax. Blesener felt that assessments were a part of the property and should be paid for by the property owner. Mr. Blesener introduced the following resolution and moved its adoption: RESOLUTION N0. 87-7-327 - APPROVING THE PURCHASE AGREEMENT WITH MR. AND MRS. WRIGHT AND AUTHORIZIN6 THE MAYOR AND CITY CLERK TO SIGN THE PURCNASE AGREEMENT ON BEHALF OF THE CITY UPON RESOLUTION OF THE LEGAL DESCRIPTION QUESTIONS BETWEEN THE CITY ATTORNEY AND THE WRIGHT'S ATTORNEY AD1D UPON MR. FRANK FRATTALONE ENTERING INTO A DEVELOPPIENT AGREEP4ENT WITH THE CITY FOR THE PURCHASE OF THIS PROPERTY FROM THE CITY AND WITH THE FURTHER STIPULATI0~1 THAT TNE CITY AGREES TO PAY THE COSTS OF ABSTRACTIMG, STATE DEED TAX AND MORTGAGE REGISTRATION WHILE THE IdRIGHT'S WILL PAY ANY SPECIAL ASSESSMENTS ON THE PROPERTY The foregoing resolution was duly seconded by Mr. Collova. Ayes (4) Blesener, Collova, LaValle, Scalze. Nays (11 Fahey. Resolution declared adopted. This resolution appears in Resolution Book No. 18, Pages 353 and 354. Mr. Blesener introduced the following resolution and moved its adoption: RESOLUTION N0. 87-7-328 - AUTHORIZING THE MAYOR AND CITY CLERK TO SIGN A DEVELOPMENT AGREEP4ENT BETWEEN TNE CITY AND FRANK FRATTALONE 6JITH REGARD TO THE THUNDER BAY TIF AND PURCHASE OF THE WRIGNT PROPERTY BY MR. FRATTALONE UPON COMPLETION AND APPROVAL BY THE CITY ATTORNEY The foregoing resolution was duly seconded by Mr. Collova. Ayes (5) Blesener, Collova, LaValle, Scalze, Fahey. roays (0). Resolution declared adopted. This resolution appears in Resolution Book No. 18, Page 355. Page -10-