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HomeMy WebLinkAboutResolution No. 2008-305CITY OF COLUMBIA HEIGHTS RESOLUTION 2008-305 APPROVING THE ACQUISITION OF PROPERTY LOCATED AT 4636 POLK STREET WHEREAS, the City has found that there exists conditions of substantial deterioration 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, they City is making a concentrated effort to acquire foreclosed properties in the Sheffield area, and WHEREAS, the city has the option to acquire such property pursuant to the Purchase Agreement by and between the City of Columbia Heights and Citi Financial (the "seller") and Purchase Agreement has been signed by the seller and provided to the City Council NOW THEREFORE BE IT RESOLVED 1. The City Council hereby approves the terms of the Purchase Agreement for 4636 Polk Street NE between the City of Columbia Heights and Citi Financial and authorizes the Mayor and City Manager to sign the agreement on behalf of the city at a purchase price up to $97,500 plus all ancillary costs associated with closing and to proceed with demolition bids. 2. The City Council hereby authorizes staff 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 payments of the purchase cost from the Sheffield Redevelopment funds (fund 410). Passed this 8th day of December 2008 Offered by: Diehm Second by: Kelzenberg Roll Call: Aye: Peterson, Williams, Diehm, Kelzenberg Nay: Nawrocki Attest: f~ . , ;~~ } ~ ~ ~ f, ~'atricia Muscovitz, AMC ;~ City Clerk