Title
A RESOLUTION AFFIRMING THE CITY MANAGER'S ACTION TO ENTER INTO A PURCHASE AND SALE AGREEMENT WITH MICHAEL MITOV AND LISA MITOV TO ACQUIRE REAL PROPERTY LOCATED AT 2217 RAVENNA STREET (PERMANENT TAX PARCEL NUMBERS 30-00969 AND 30-03461) IN THE CITY OF HUDSON, OHIO, FOR PUBLIC PURPOSES; AND DECLARING AN EMERGENCY.
Brief Description: As a condition precedent to the purchase and sale agreement for the property located at 2217 Ravenna Street going into effect, Council must authorize said agreement. This resolution affirms the City Manager's action of entering into the agreement and authorizes the purchase of property located at 2217 Ravenna Street, including approximately 7.26 acres on two adjacent parcels (#30-00969 & 30-03461) for future public purposes. (See ALTA map attached.)
Body
Legislative History
None.
Purpose & Explanation
The City Council has considered the acquisition of property at 2217 Ravenna Street. This Resolution affirms the City Manager's action of entering into an agreement to purchase the property and authorizes said acquisition of the subject property for a public purpose at a fair and reasonable price and pursuant to the terms of the purchase and sale agreement.
Upon completion of the due diligence investigation by City Staff, City Council may vote to affirm the City Manager's action and close on the property.
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: $ 430,000
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 after due diligence investigation is ...
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