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HomeMy WebLinkAboutResolution No. 2002-67 RESOLUTION 2002 - 67 BEING A RESOLUTION AUTHORIZING THE PURCHASE OF 3710 CENTRAL AVENUE N.E. WHEREAS, the City Council and EDA have established Central Avenue as a priority for redevelopment in order to remove blight and improve vitality on the avenue; and WHEREAS, the City presently owns two properties in this redevelopment area and are in the process of negotiating a commercial/housing redevelopment project at this site; and WHEREAS, the prOPerty located at 3710 Central Avenue N.E. is part of the redevelopment site and has become available for a voluntary sale; and WHEREAS, the proposed purchase agreement is within reasonable limits of the appraisers value estimate for this property. NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Columbia Heights that: The City Council hereby approves the terms of the Purchase Agreement for 3710 Central Avenue N.E. between the City of Columbia Heights and Paul and Vir.~nia gleeerofl, and authorizes the Mayor and the City Manager to sign it on behalf of the City at a purchase price of $2_411,11fl0.~, which is established as a fair market value based on negotiations with the property OWller. The City Council hereby authorizes the City Manager to handle all the requirements and conditions in order for the City to complete the transaction contemplated in the Purchase Agreement. The City Council approves payment of the purchase from Fund 414, to be reimbursed at the time redevelopment of this property takes place. Passed this 25th day of November, 2002 Offered by: Second by: Roll Call: Szurek Wyckoff Ayes - Peterson, Szurek, Wyckoff, Williams, Nawrocki Attest: P~tricia Muscovitz, Deputy City3zlerk MayorPet 's o-n