2012-887 RESOLUTION NO. 2012 -887
A resolution authorizing the City Manager to proceed with the sale of property located at 407 Lincoln Street.
WHEREAS, the City of Janesville owns the following described parcel:
ROCKPORT ADD. LOT 9 BLK.6 DAF: Pt SW1 /4, Sec 36, T3N, R12E, 4th PM, City of Janesville, Rock Co, WI JC6006610
WHEREAS, The City of Janesville acquired the property located at 407 Lincoln Street in August of 2009, through the
Neighborhood Stabilization Program Grant; and
WHEREAS, The City of Janesville has rehabilitated the property consistent with the Neighborhood Stabilization Program
requirements; and
WHEREAS, The City of Janesville has negotiated an agreement to sell the property to Mr. Jered Parks for $80,000.00 including
a $2000 buyers credit for a total purchase price of $78,000.00.
WHEREAS, The City of Janesville has obtained a copy of an appraisal of the property in the amount of $90,000; and
WHEREAS, The City of Janesville has verified that Mr. Parks is within the program criteria; and
WHEREAS, The City of Janesville has provided $2500 in down payment assistance: and,
WHEREAS, the Plan Commission has reviewed the Neighborhood Stabilization Program at their June 1, 2009 meeting and
found the purchase, rehabilitation and sale to be consistent with established City plans and recommended that the City Council
proceed with the sale of this property, but further noted that the Plan Commission had not reviewed the financial aspects of this
transaction; and
NOW THEREFORE BE IT RESOLVED BY THE COMMON COUNCIL of the City of Janesville that it hereby authorizes and
directs the City Manager and the City Clerk to execute on behalf of the City of Janesville, the sale of such property; and to
negotiate and execute such documents, papers and forms as may from time to time be necessary and /or desirable to effectuate
such transaction and the intent of this resolution as the City Manager may decide; and
BE IT FURTHER RESOLVED that the City Manager is hereby authorized to take whatever other actions or to make whatever
other minor changes that may be necessary to effectuate this land transaction.
ADOPTED: February 27, 2012 Motion by: Liebert
Second b : Voskuil
APPRR, D: Councilmember Aye Nay Pass Absent
Dongarra -Adams X
Liebert X
Eri . Levitt, City 1 , : nager McDonald X
Rashkin X
ATTEST: / Steeber X
Voskuil X
d �/riir �ili 1
Je- Ann Wulf, City Clerk- Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney .
Proposed by: Neighborhood Services
Prepared by Neighborhood Development Specialist