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TO: Mayor Thomas J. Weisner
FROM: Jim Pilmer, Director of Neighborhood Standards
DATE: June 18, 2014
SUBJECT:
A resolution authorizing the execution of a contract to purchase real property known as 1044 Gates Street, Aurora, Illinois.
PURPOSE:
This single family home includes two parcels adjacent to the west recreational area of Phillips Park. Located on the corner of Parker Avenue and Gates Street the home became available through a foreclosure with PNC Bank. The PIN is 15-34-233-007. The most recent mortgage was made in 2006 for $138,000. With the popularity of the west recreational area for events and with the daily use of the off leash dog park, Mastodon Lake for paddling, and the sand volley ball courts this area is underserved for public parking. Upon purchase the property would be demolished with accordance to ordinances and a budget plan for improvements will be submitted for FY2015.
BACKGROUND:
This request is for the Division of Parks and Recreation. The single family home sits on two parcels. It is being marketed electronically for PNC Bank by NationalLink REO Department in Moon Township, Pennsylvania. The property ID is # 930681. The closing agent will be OfferSubmission.com in Southfield, MI. Providence Realty Group is the local listing agent. At closing a $300.00 processing fee is paid for the electronic transaction. Representing the City of Aurora as Buyers Agent is local Realtor Mike Drews.
DISCUSSION:
This property acquisition will be made from the Land Acquisition account number 215-1710-417.71-01. The property will be demolished in 2014 under the Vacant and Abandoned Property Program in the division of Property Standards. The vacant land will be maintained by the Division of Parks and Recreation. Planning for the expansion will be in the FY2015 budget.
IMPACT STATEMENT:
Following the purchase and demolition the impact to the various departments budgets is minimal until development use and costs are fi...
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