cover
TO: Mayor Richard C. Irvin
FROM: Bill Wiet
DATE: November 21, 2017
SUBJECT:
To acquire, through assignment from Invest Aurora, the properties located at 110 S. LaSalle South Broadway Street, Aurora, Illinois. The purchase price is not to exceed $80,000.
PURPOSE:
The intent is to demolish the building and create additional public parking when added to the adjacent parcel at 120 South LaSalle Street.
BACKGROUND:
This building has vacant commercial space on the first floor, occupied residential units on the second and third floors and has severe mold issues in the basement. It also comes with the adjoining parcel currently used for parking.
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 not to exceed $82,000. (Exhibit A).
Funds are available in account number 215-1710-417.71-01 (Cost of Land)
IMPACT STATEMENT:
The purchase of these parcels will allow for additional public parking.
RECOMMENDATIONS:
That the attached Real Estate Contract for the purchase of property located at 110 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 ________________
title
A Resolution Authorizing the Assignment of Commercial Sales Contract to Purchase Real Property Located at 110 South LaSalle, Aurora, Illinois
body
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 welfa...
Click here for full text