HomeMy WebLinkAboutRESOLUTIONS-1970-015-R-70RESOLUTION
15-R-70
WHEREAS the City Council of Evanston adopted resolution
43-R-69 authorizing the filing of an application and execution of
contracts with the Department of Housing and Urban Development for
a Federal Open Space Grant to assist in acquiring and developing
property commonly known as 719-727 Madison Street (odd numbers)
and 722-726 Washington Street (even numbers); and
WHEREAS said application has been filed and project approval
has been received from the Department of Housing and Urban Develop-
ment authorizing the city to purchase the property; and
WHEREAS preliminary discussions have taken place between
representatives of the city and the property owners informing them
of the City's interest in said property, during which the owner of
723 Madison indicated his willingness to negotiate with the City;
and
WHEREAS the Department of Housing and Urban Development
regulations require that if a property is to be acquired prior to
obtaining HUD concurrence in acquisition price, "the applicant
shall, before stating negotiations, obtain two competent independen-
appraisals of the property and, after considering the appraisals,
make a determination, by resolution by its governing body, of the
fair market value of property. The initial offer to the owner
shall be in the full amount of the evaluation so determined . . .
and
WHEREAS the city has obtained two competent independent
appraisals of the property commonly known as 723 Madison Street;
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EVANSTON:
1. That it is hereby determined, based on full considera-
tion of the above mentioned appraisals, that the fail market value
of the property commonly known as 723 Madison Street is $26,500.
2. That the City Manager is hereby authorized to make
an initial offer to the owner in the full amount of said fair
market value, and to purchase the property on behalf of the
City of Evanston for said amount.
APPROVED /s/ John 1)_ Emery
Mayor
ATTEST:
/s/ Maurice F. Brown
City Clerk
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Adopted Mav 4. ,1970
Recorded ,1970
APPROVED AS TO FORM:
/s/ Jack M. Siegdl-
Corporation Counsel
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