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MINUTES <br />City Council <br />Feb. 24, 1988 <br />Center•ville EXPENSES, WITH THE SELLER TO BE RESPONSIBLE <br />Road Ar•ea FOR ALL LEVIED, PENDING OR DEFERRED ASSESSMENTS, <br />(Cont.) TERMS OF THE PURCHASE TO BE FIVE YEARS OR LESS, <br />AT AN INTEREST RATE, IF APPLICABLE, TO BE 1% <br />LESS THAN THE INVFSTMENT RATE THE CITY IS <br />RECEIVING, WHICH WILL BE DETERMINED QY THE <br />CITY CLERK A~ID CITY AUDITOR, WITH DEMOLITION A~1D <br />SEEDING OF THE PROPERTY TO BE DONE TO THE SATISFACTI0~1 <br />OF THE CITY ENGINEER <br />The for•egoi ng r~esol uti on was duly seconded by Mr•. Bl esener~. <br />Ayes (4) Scalze, Blesener~, Fahey, Collova. <br />Nays (0). <br />Resolution declar~ed adopted. <br />This r~esolution appear•s in Resolution Book No. 19, Page 73. <br />Fasciana Fahey pointed out that the ter~ms of the Fasciana option agr~eement <br />Pr•oper~ty call for~ a pur~chase pr•ice that is equal to what other• pr~oper~ty owner•s <br />in the Centerville Road Area are receiving. Fahey suggested that <br />the Fasciana option agr•eement be r•evised to r~eflect a$24,200 per~ <br />acr~e pur•chase pr•ice and that the seller• be r~esponsible for~ all levied, <br />pending or~ defer~r•ed assessments. <br />P1r. Fahey intwoduced the following resolution and moved its adoption: <br />RESOLUTIO~I N0. 88-2-70 - AME~IDING TI1E CITY'S <br />OPTIOM AGREFMENT 0~1 THE FASCIANA PROPERTY IN THF <br />CENTERVILLE ROAD AREA TO INCLUDE A PURCwASE <br />PRICE OF $24,200 PER ACRE WITN THE SELLER TO BE <br />RESPONSIBLE FOR ANY LEVIED, PENDING OR DEFERRED <br />ASSESSP4ENTS, I~iHICN IS AN OFFER SIMILAR TO THFlT <br />BEING MADE FOR THE PURCHASE OF THE DAVE FRATTALONE <br />PROPERTY <br />The for~egoing r~esolution was duly seconded by P~r~. Collova. <br />Ayes (41 Fahey, Collova, Blesener•, Scalze. <br />Mays (0). <br />Resolution declar~ed adopted. <br />This resolution appears in Resolution Book No. 19, Page 74. <br />Bibeau The City Attor~ney suggested an option agr•eement be pr•epar•ed for~ the <br />Property Qibeau property with a purchase price of $24,200 per acre as well as <br />a price of $33,600 for the structures on the property. The $33,600 <br />r•eflects the appr•aised value of the str•uctur•es. <br />P1r. Collova introduced the following resolution and moved its adoption: <br />Page -17- <br />