Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A PURCHASE AND SALE AGREEMENT WITH WINDSTREAM WESTERN RESERVE, LLC TO ACQUIRE REAL PROPERTY LOCATED AT 94 OWEN BROWN STREET (PERMANENT TAX PARCEL NO. 32-04148) IN THE CITY OF HUDSON, OHIO; AND DECLARING AN EMERGENCY.
Brief Description: This resolution authorizes the purchase of property located at 94 Owen Brown Street in order to facilitate eventual development of the downtown area pursuant to future Council direction.
Body
Legislative History
None.
Purpose & Explanation
For some time, City Council has considered the acquisition of property at 94 Owen Brown Street; this Resolution authorizes said acquisition of the subject property for a public purpose at a fair and reasonable price.
Please note: The property is currently a part of a bankruptcy proceeding. Consequently, the aforementioned purchase and sale agreement must be first approved by the bankruptcy court prior to the property being released for transfer to the City.
Importantly, the length of this process cannot be estimated; however, we fully expect the sale to be approved.
Legal Authority for Proposed Legislation
Pursuant to Charter Section 6.04, Contracts & Purchasing:
Competitively bid and advertised for two consecutive weeks; bid tab attached:
Joint or Cooperative Purchase Program
Professional Services
X Other
Fiscal Impact
Currently Budgeted
X Supplemental Appropriation Required: $1,025,000
Appropriation Not Required
Does this legislation require use of an emergency clause?
X Yes, this Resolution will be effective immediately upon passage.
No
Recommendation
Suggested Action
Staff recommends passage of this Resolution.
Submitted by,
Jane Howington, City Manager