THE CITY OF MONTICELLO, IOWA
RESOLUTION #12-56
Resolution to approve offering the properties located at 414 and 416 E. Oak Street, Monticello, IA 52310 for sale to the developers for the sum of $75,000.
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
WHEREAS, The City of Monticello, in partnership with the Monticello Development Corporation, previously purchased properties located at 414 and 416 E. Oak Street, respectively, with the goal of ensuring the availability of the properties for redevelopment, and
WHEREAS, a prospective developer has expressed interest in purchasing the homes from the City and the Development Corporation as part of the re-development of the area comprised by these two homes as well as the approximate 2.5 acres laying behind these two homes, and
WHEREAS, The Development Corporation has approved the sale of the two properties for the exact sum of the initial investment of the City and the County, same being $75,000, and
WHEREAS, The City Council finds that the sale of the properties for the sum of $75,000, results in the full return of the City investment and also meets the goal of assisting in the redevelopment of the area and should therefore be approved.
NOW THEREFORE BE IT RESOLVED by the City of Monticello, through its’ City Council, in session this 2nd day of April, 2012, that the City Administrator is hereby directed to relay the offer of the City of Monticello, as agreed to by the Monticello Development Corporation, to sell the properties located at 414 and 416 E. Oak Street to the developers of the First property located adjacent thereto for the sum of $75,000, with the City to receive exactly $37,500 from the proceeds of the real estate closing.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal for the City of Monticello, Iowa to be affixed. Done this 2nd day of April, 2012.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, City Clerk