2005-207
Resolution 2005 - 207
A Resolution Approving an Offer to Purchase a 7-Acre Parcel of Riverfront Property from
Hendricks Commercial Properties, LLC Using up to $59,000 in Grant Funds from the
Janesville Foundation
WHEREAS, Sections 62.22 (1), 62.23 (17) (a), 62.23 (17) (b), and Chapter 32 of Wisconsin Statutes
permit the acquisition, protection, and conservation of parkland, open space, and riverfront properties;
and
WHEREAS, the City Council has adopted a Riverfront Development Strategy that calls for the
acquisition, protection, and conservation of lands along the Rock River for parks, recreation and public
purposes, including the riverfront property located south of the building at 1405 Riverside Street in the
City of Janesville, County of Rock, State of Wisconsin; and
WHEREAS, Hendricks Commercial Properties, LLC, a Wisconsin domestic corporation, the owner of
the property at 1405 Riverside St. has agreed to the City's Offer to Purchase 7 acres of riverfront
property located south of 1405 Riverside St. for purchase price of $35,000 plus the City's agreement
to reimburse the seller $6,000 for a boundary survey of the property and to pay all closing costs
associated with this transaction; and
WHEREAS, the City has previously expended $18,000 on property appraisals, title reports, and
environmental studies on the property, bring the total cost ofthis property acquisition to $59,000; and
WHEREAS, the Janesville Foundation has awarded grants to the City of Janesville in the amount of
$65,000, toward the City's cost of purchasing the property at 1405 Riverside St., and
WHEREAS; the Plan Commission reviewed the purchase and lease back of the property located at
1405 Riverside St. at their November 20,2000 meeting and found such purchase to be consistent with
City plans, but did not comment on the fnancial aspects of any specific transaction; and
WHEREAS, the Common Council of the City of Janesville finds that the purchase of a 7 acre riverfront
property south of 1405 Riverside St. using grant monies received from the Janesville Foundation is in
the best interest of and benefit to the City, its citizens, and the overall community;
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville that they
hereby approve the Offer to Purchase a 7 -acre parcel of riverfront property located south of 1405
Riverside St from Hendricks Commercial Properties, LLC authorize the City Manager/Administration
utilize up to $59,000 of grant monies from the Janesville Foundation to cover the costs of this
transaction; and
BE IT FURTHER RESOLVED, that the City Manager, on behalf of the City of Janesville, is hereby
authorized to negotiate, draft, modify, amend, review, and file all such other documents, papers, and
agreements, to take whatever other actions, and to make whatever changes and amendments to the
Offer to Purchase such other documents and agreements which the City Manager may, from time to
time, deem necessary and/or desirable to effectuate the intent of this Resolution.
Resolution 2005 - 207
Page 2
ADOPTED:
September 26, 2005
APPROVED:
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Steven E. Sheiffer, City Mager
ATTEST:
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APPROVED AS TO FORM:
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Proposed by: City Manager
Prepared by: Dir. of Economic Development
Motion by: Williams
Second by: DeGarmo
Councilmember Aye Nay Pass Absent
Brunner X
Brien X
Williams X
Wellnitz, Tim X
Wellnitz, Tom X
DeGarmo X
Addie X