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HomeMy WebLinkAboutResolution 95-36 36 RESOLUTION 95 - ~.~RESOLUTION OF THE CITY COUNCIL OF THE C~T¥ OF COLU~B~ HE~HTS~ HINNESOT~ ,UTHORIZING THE PURCHASE OF 4549-51 T~YLOR STREET N.E. WHEREAS, the City Council of the City of Columbia Heights (the "City) has an on-going Community Development Block Grant (CDBG) funded Neighborhood Revitalization Program; and WHEREAS, the City has found that there exists conditions of deteriora- tion, substandard residential structures, residential units in need of repairs which are in violation of the City Housing Code and City Ordinances or there exists a need (due to blighting influences) for intervention by the City to prevent further deterioration of the area; and WHEREAS, the City has an option to acquire one such duplex residential pursuant to the Purchase Agreement by and between the City of Columbia Heights and Gordon L. and Joan R. Bixler (the "Seller") and such Purchase Agreement has been signed by the Seller and provided to the City Council. 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 Agreement (On 4549-51 Taylor St. N.E.) between the City and Gordon L. and Joan R. Bixler and authorizes the Mayor and the City Manager to sign it on behalf of the City at a purchase price of $63,900 which is established as the fair market value based on the amount being the price for the property offered for sale through Centennial Real Estate and the value being less than value established by the formal appraisal of the property by Watson Appraisal. 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 Agreements. 3. The City Council approves payment of the purchase cost from the City CDBG Program funds. PASSED THIS 24~h DAY OF July .... 1995. MOTION BY: Rue~timann SECONDED BY: ?ctkoff ROLL CALL: AYES: Jolly, Petkoff, Ruettimann, Peterson, Sturdevant NAYS: None ATTEST: iAnne Student ty Council Secretary RES95 //o s eph/Sturdevant Its Mayor