2001-153RESOLUTION 2001 - 153
A Resolution Approving and Granting an Option to Purchase the City-Owned Property
Located at 26 N. Academy St. to V~VIP, LLC
WHEREAS, in 1992, the City of Janesville purchased property located in downtown Janesville at 26
N. Academy St. for redevelopment purposes, (hereinafter the Property); and
WHEREAS, the Common Council of the City of Janesville has determined that said property is surplus
and is suitable for a redevelopment project being proposed by WMP, LLC, (hereinafter WMP) a
Illinois based limited liability company that is seeking a contract from the General Services
Administration to build new offices for the Social Security Administration;, and
WHEREAS, Wisconsin Statutes sections 62.22 (1), 62.23 (17)(b), and 62.11 (5)jointly and severally
provide for the sale of surplus City property following the review and recommendation by the Plan
Commission; and,
WHEREAS, the Janesville Plan Commission has reviewed and recommended the sale of said property
at their January 4, 1993 meeting, but did not review the financial aspects of the proposed land sale; and
WHEREAS, WMP, has asked the City to grant an Option to Purchase the Property and has negotiated
an Option Agreement dated the 27th of March, 2001, which Agreement sets the terms and conditions
of the sale, sets a purchase price of $57,000, and is incorporated herein as if fully set forth; and
WHEREAS, the Common Council of the City of Janesville does hereby find that the proposed sale of
the Property is in the best interest and to the benefit of the citizens of the community and the City;
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville approves
the Option to Purchase Agreement with WMP, LLC and grants WMP, LLC an option to purchase the
property located at 27 N. Academy St. for a purchase price of $57,000; and
BE IT FURTHER RESOLVED, that the City Manager and his designee(s), on behalf of the City of
Janesville, is/are hereby authorized to close upon this transaction, to negotiate, draft, modify, review,
execute, enter into, record and/ur file any and all documents, papers, forms, and agreements, to take
whatever other actions, and to make whatever minor modifications and/or amendments to the Purchase
and Sale Agreement, such other writings and/or this transaction as the City Manager may, from time to
time and at any time, determine necessary and/or desirable to effectuate the intent of this Resolution
and this transaction.
ADOPTED: April 9, 2001
APPROVED: ,~
C8~e~ E. Sheiffer, iZity Manager
ATTEST:
Je~nn~Wu-lf,'City Clerk-Trehsurer ~
APPROVED AS TO FORM: ~ ~, ~/
City Attomey
Proposed by:
Prepared by:
MOTION BY: DeGarmo
SECOND BY: Williams
COUNCILMEMBER AYE NAY PASS ABSENT
SCHNEIDER X
WILLIAMS X
NOLL X
BRIEN X
MURPHY
O'LEARY X
DEGARMO X
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