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TO: Mayor Richard C. Irvin
FROM: Bill Wiet
DATE: November 21, 2017
SUBJECT:
To acquire, through assignment from Invest Aurora, the property located at 120 S. LaSalle South Broadway Street, Aurora, Illinois. The purchase price is $22,000.
PURPOSE:
The intent is to create additional public parking when added to the adjacent parcel at 110 South LaSalle Street.
BACKGROUND:
This is a vacant lot adjacent to 110 S. LaSalle. Combining this lot with the adjacent parcels would allow for the creation of a new public parking lot.
DISCUSSION:
Invest Aurora will enter into a purchase and sale agreement pending Invest Aurora Board approval on November 21, 2017. The City of Aurora is to purchase this property from Invest Aurora. Purchase price $22,000. (Exhibit A).
Funds are available in account number 215-1710-417.71-01 (Cost of Land)
IMPACT STATEMENT:
The purchase of this parcel will allow for additional public parking.
RECOMMENDATIONS:
That the attached Real Estate Contract for the purchase of property located at 120 South LaSalle Street be approved by assignment from Invest Aurora.
cc: Alderman O’Connor, Chairman
Alderman Mesiacos
Alderman Bugg
Alderman Mervine, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution Authorizing the Assignment of Commercial Sales Contract to Purchase Real Property Located at 120 South LaSalle, Aurora, Illinois
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, The City of Aurora is interested in acquiring, as assignee from Invest Aurora, and J. Jesus Quezada is interested in selling the property located at 120 South LaSalle Street, consisting of parcel number 15-22-386-004; and
WHEREAS, it is in the best interests of the City of Aurora and its residents to complete the acquisition of the property described above; and
WHEREAS, funding for the purchase will be available for the acquisition in Account Number 215-1710-417.71-01 (Cost of Land) for a total not to exceed Twenty Two Thousand Dollars ($22,000.00).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: That the attached Commercial Real Estate Contract for the purchase of property located at 120 South LaSalle Street be approved by assignment from Invest Aurora, and that Richard Veenstra, Corporation Counsel, or his designee are hereby authorized to act on the City's behalf to complete the purchase of this property.