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HomeMy WebLinkAboutResolution 95-04 RESOLUTION 95- 04 RE~OLUTION OF THE CITY COUNCIL OF THE CITY OF COLUI~BI~ HEIGHT~, I~NNESOT~ ~UTHORIZING THE FIF~CH~E OF 455S-57 T~YLOR STREET N.E. LOCATED IN THE --'REFFZELD NEZGHBOI~OOD NHEREA~, 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 pursuant to the Purchase Agreement by and between the City of Columbia Heights and Dorothy C. McGuire (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 Dorothy C. McGuire authorizes the Mayor and the City Manager to sign it on behalf of the City at a purchase - price of $62,300 which is established as the fair market value based on the Anoka County assessors 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 Agreements. (3) The City Council approves an interim source of funding from Capital Improvement Fund 410 in the amount of $62,300 plus $2,000 so the City may acquire the real property as provided in the Purchase Agreements. (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 )th day of 3anusr¥ 1995. Motion by: Jo]l~ Roll Call: Ayes: _ Nays: /~0Anne Student ~ ~City Council Secretary Seconded by: Jolly, Peterson~ Sturdevant None Sturdeyant ~o~e~h Sturdevan Its Mayor