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TO: Mayor Richard C. Irvin
FROM: Bill Wiet
DATE: November 22, 2017
SUBJECT:
To sell a portion of the City’s vacant lot at 10 East Downer Place (PIN #15-22-334-004) to Olive Tree Properties LLC, the purchaser of the adjacent property at 6 East Downer, for use as outdoor seating and room for exterior staircase to lower level of adjacent building.
PURPOSE:
The sale of a portion of the ROW to the Silverplate parcel would allow basement access to the adjacent building creating an opportunity for additional commercial space.
BACKGROUND:
This is City of Aurora Right-of-Way and contains a grassy area adjacent to the Silverplate building which is currently being redeveloped to include an old fashioned ice cream shoppe on the first floor, residential units on the second and third floors, and a speakeasy in the basement.
DISCUSSION:
The estimated project value of the adjacent improvements is $750,000. The sale of a portion of the ROW to Olive Tree Properties LLC would allow basement access to the speakeasy and some outdoor seating space (Exhibit A).
IMPACT STATEMENT:
This sale will allow for additional commercial space and outdoor seating and put the property on the tax roll.
RECOMMENDATIONS:
It is recommended that the Contract for the Purchase and Sale of a Portion of City Owned Real Estate Located at 10 East Downer Place be approved.
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 Approving Contract for the Purchase and Sale of a Portion of City Owned Real Estate Located at 10 East Downer Place, 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 selling and Olive Tree Properties, LLC is interested in purchasing a portion of the City owned land consisting of approximately .02+/-acres; and
WHEREAS, Olive Tree Properties, LLC, purchases 6 East Downer Place, Aurora, Illinois and fulfills the conditions set forth in the redevelopment agreement; and
WHEREAS, Olive Tree Properties, LLC, desires to use this City owned property to add outdoor seating and exterior basement access, increasing the tax base for the property; and
WHEREAS, it is in the best interest of the City of Aurora and its residents to sell its property to Olive Tree Properties, LLC for a price of Ten Dollars ($10.00)
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows:
1. That the Mayor of the City of Aurora be authorized to execute the Contract for the Purchase and Sale of Real Estate attached hereto and made a part thereof as Exhibit B.
2. That a Plat of Survey identifying the portion of property being sold be provided by the City of Aurora prior to closing.
3. That the Corporation Council for the City of Aurora, or his/her designee, be authorized to complete the sale of property on the City's behalf.