HomeMy WebLinkAboutResolution 94-60 RESOLUTION 94 - 60
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLUMBI~ HEIGHTS, MINNESOT~
--AUTHORIZING THE PURCHASE OF 4501-03 T~YLOR STREET N.E. LOCATED IN THE
~HEFFIELD NEIGHBORHOOD
NHERE~S, the City Council of the city of Columbia Heights (the "city")
and the Housing and Redevelopment Authority in and for the city of Columbia
Heights (the "Authority") have jointly prepared a Redevelopment Plan for the
Sheffield Neighborhood entitled "The Sheffield Neighborhood Revitalization
Program (the ,,Redevelopment Plan"); and
WHEREAS, the City and the Authority have found within the Sheffield
Neighborhood there exists conditions of deterioration, substandard residen-
tial structures, residential units in need of repairs which are in violation
of the city Housing Code and City Ordinances or there exists a need for
intervention by the City to prevent further deterioration of the area, and
WHEREAS, the city has an option to acquire one such duplex property to
pursuant to the Purchase Agreement by and between the city of Columbia
Heights and Ermina Jewell, et al. (the "Seller"); and the Purchase Agreements
were signed by the Seller(s) and are provided herewith; and
NOW, THEREFORE BE IT RESOLVED by the city Council of the city of
Columbia Heights that:
(1) The City Council hereby approves the terms of the Purchase Agree-
ment between the city and Ermina Jewell, et al. and authorizes the
_ Mayor and the City Manager to sign it on behalf of the City at a
purchase price of $57,000 which is established as the fair market
value based on Watson Appraisal estimated market value.
(2) 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.
(3) The City Council approves an interim source of funding from Capital
Improvement Fund 410 in the amount of $57,000 plus $2,000 so the
City may acquire the real property as provided in the Purchase
Agreement.
(4) The interim sources of financing of Capital Improvement Fund 410
shall be repaid from sources of permanent financing as set forth in
Resolution 94-40 (Approving the Development Project Budget for 4600
block Between Pierce Street and Fillmore Street).
Passed this
Motion by:
Roll Call:
26th day of September , 1994.
Peterson Seconded by; Ruettimann
Ayes: Jolly, Nawrocki, Ruettimann, Peterson, Sturdevant
Nays: None
EST:
~. Anne - S~Udent '
~ity Council Secretary
x~osep~ Sturdevant
~/Its Mayor