2001-154RESOLUTION 2001 - 154
A Resolution Authorizing the City Manager to Exercise the City's Option to Purchase and to
Purchase the Property Located at 701 S. Jackson St. for $12,500 in CDBG Blight Elimination
Funds
WHEREAS, the City of Janesville has negotiated an Option to Purchase the property at 710 S.
Jackson St. for a purchase price of $12,500, a copy of said Option to Purchase being attached
hereto and incorporated herein as if fully set forth; and
WHEREAS, the City of Janesville is authorized and empowered to purchase such property and to
enter into such Offer to Purchase Agreement pursuant to Wisconsin Statutes Sections 62.22 (1)
and 62.23 (17); and
WHEREAS, the City of Janesville Community Development Authority reviewed the proposed
property purchase and recommended such purchase using budgeted CDBG Blight Elimination
monies; and,
WHEREAS, the Plan Commission of the City of Janesville reviewed the proposed purchase of
701 S. Jackson St. at their April 2, 2001 meeting and found such purchases to be consistent with
City plans, but did not review the financial aspects of the planned transaction; and
WHEREAS, the exercise of such Option to Purchase and the purchase of 701 S. Jackson St.would
benefit the City of Janesville and is in the best interests of the City and its residents;
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville, that
it hereby authorizes the City Manager to exercise the City's Option to Purchase the property at
701 S. Jackson St. and authorizes the City Manager to acquire the property at the negotiated
purchase price of $12,500 and that the funds for said purchase shall come fi.om CDBG Blight
Elimination funds; and
BE IT FURTHER RESOLVED, by the Common Council of the City of Janesville that the City
Manager is authorized to, from time-to-time, make such other modifications and amendments to
the terms and conditions of the Option To Purchase, and to negotiate, draft, enter into and take, on
behalf of the City of Janesville, such additional documents, agreements, transactions, and actions
that the City Manager determines necessary or desirable to effectuate this property acquisition and
intent of this Resolution.
Resolution 2001-154
Page 2
ADOPTED: April 9, 2001
APPROVED:
t~even E. Sheiffer, City Manager g --
ATTEST:
Jeal~ Wulf, City-C-lerk-Treas'tlrer
APPROVED AS TO FORM:
City Attomey
Proposed by: City Manager
Prepared by: Economic Development Director
MOTION BY: Schneider
SECOND BY: Noll
COUNCILMEMBER AYE NAY PASS ABSENT
SCHNEIDER X
WILLIAMS X
NOLL X
BRIEN X
MURPHY X
O'LEARY X
DEGARMO X
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