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TO: Mayor Richard C. Irvin
FROM: David Dibo, Director of Economic Development
DATE: September 4, 2019
SUBJECT:
An Ordinance Authorizing the Corporation Counsel to Transfer a Portion of the Property located 10 E. Downer Place for Nominal Consideration (City of Aurora- 19-0783 / AU22/3-19.152-AG/D - AM - Ward 6).
PURPOSE:
The sale of a portion of the ROW addressed 10 E Downer Place to the Olive Tree Properties LLC, and the consolidation of the two lots 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 Silver Plate building which has been redeveloped to include an old fashioned ice cream shop on the first floor, residential units on the second and third floors, and a speakeasy in the basement.
In November 2017 the City Council passed a resolution approving a contract for the purchase and sale of the before mentioned City owned real estate located at 10 E. Downer Place. At that time no floor plans had been designed and the contract has never been executed.
In light of most recent revised plans for the referenced portion of the right of way, the previously approved contract need to be revised.
The area subject to be sold has slightly increased to accommodate the needs of a basement access to a speakeasy and some outdoor seating space which is in the process of being reviewed.
The contract is being revised to reflect the actual dimensions of the portion of right of way addressed 10 E Downer Place. The area is approximately 0.31 ac. characterized by an irregular shape: +/- 14.49' + 8.50' + 19.33' + 50.91' + 4.07' + 5.74' + 13.79' + 38.88' + 65.80' as depicted on the final plat for preliminary purposes only. The final plat, for the consolidation of the before mentioned parcels, will have to be approved upon execution of the contract.
DISCUSSION:
The sale of a portion of the ROW to Olive Tree Properties LLC,...
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