HomeMy WebLinkAboutRESOLUTIONS-1984-055-R-847/ 3/84
55-R-84 e
A RESOLUTION
Authorizing the City Manager
to Enter into an Agreement
with Family Focus, Inc.
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WHEREAS, on May 9, 1979, Family Focus, Inc. executed a Note dated
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May 9, 1979, payable to the City of Evanston for Fifty Thousand and no/100
Dollars ($50,000.00), which is secured by a Mortgage on property owned by
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Family Focus, Inc., at 1819 Church Street, Evanston, Illinois; and
I! WHEREAS, under the terms of paragraph one (1) of.the aforesaid Note,i
I Family Focus, Inc. agreed that the entire principal (Fifty Thousand and no/100-
Dollars, $50,000.00) shall be due immediately in the event of its failure,
I to operate 1819 Church Street as a teen outpost center, and
t WHEREAS, on or about January 1, 1984 Family Focus, Inc. has ceased'
to operate a teen outpost center at 1819 Church Street; and
i WHEREAS, the City of Evanston is desirous of recovering its Fifty:"
Thousand and no/100 Dollars ($50,000.00) principal investment; and i
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i+ WHEREAS, the City of Evanston does not seek to recover said principal,
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investment in a manner which will create financial hardship on Family Focus,
i Inc.; and
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I WHEREAS, the City of Evanston and Family Focus, Inc. both believe
Iit is in the best interests of the residents of the City of Evanston to returns
the 1819 Church Street property to a productive use, and place said property
on the tax rolls; and
WHEREAS, the aforementioned objectives may best be achieved by the
sale of the 1819 Church Street property to a taxable user.
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of�
Evanston, Cook County, Illinois:
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7/3/84
55-R-84
SECTION 1: That the City Manager is hereby authorized and directed
to sign and the City Clerk hereby authorized and
directed to attest on behalf of the City of Evanston an Agreement by and
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between the City of Evanston and Family Focus, Inc. for the recovery by the
City of Evanston of its principal grant of Fifty Thousand and no/100 Dollars
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($50,000.00) made to Family Focus, Inc. on May 9, 1979 on terms as substantial-
ly set forth in the Agreement marked as Exhibit A and attached hereto _and
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incorporated herein by reference.
SECTION 2: The City Manager is hereby authorized and directed to
negotiate any additional conditions as may be determined
to be in the best interest of the City.
SECTION 3: This resolution shall be in full force and effect from
and after its passage, approval and publication in the
manner provided by law.. •�
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ATTEST:
J,g��
City Clerk
Adopted: Z 3
4
•
, 1984
-2-
V
A G R E E M E N T
THIS AGREEMENT made this v//#<day of 1984.
by and between the City of Evanston, a municipal corporation, hereinafter
•
called "Evanston", and Family Focus, Inc., hereinafter called "Family Focus".
WHEREAS, Family Focus executed a Note dated May 9, 1979, payable to.:l
Evanston for Fifty Thousand and no/100 Dollars ($50,000.00), which is secured,I
by a Mortgage on property owned by Family Focus at 1819 Church Street,,,.!;,,.'
Evanston, Illinois, copies of,which are attached as Exhibits A and B.
respectively; and
WHEREAS, under the terms of paragraph one (1) of the aforesaid•Note,
Family Focus agreed that the entire principal (Fifty Thousand andno/100
'
Dollars, $50,000.00) shall be due immediately in the event of its.,failure,to,`,;,.
operate "1819 Church Street" as a teen outpost center; and'a,:,
WHEREAS, on or about January 1, 1984 Family Focus has ceased.
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operated a teen outpost
oper 1 19 Church S re �:.� •.. �':��._`';-.Y� q,
utp st center at 8 Street; and
WHEREAS, Evanston .is desirous of recovering its Fifty Thousand
t 4;S �• i J
no/100 Dollars ($50,000.00) principal investment; and
WHEREAS, Evanston does not seek to recover said principalinvest-,,'•'=,,
ment in a manner which will create financial hardship on.Family Focus; and
WHEREAS n and Fa
Evanston mily Focus both believe it isn the'IbestY:..
,
,in
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interests of the residents of the City of Evanston to return the 1819 Church,'',
Street property to a productive use, and place said property on the tax rolls;
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and X.
WHEREAS, the aforementioned objectives may best be achieved by the..
sale of the 1819 Church Street property to a taxable user.
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NOW, THEREFORE, in consideration of the mutual agreements of the'=,<'
respective parties herein contained, the parties do hereby covenant and
agree as follows:
:, A,
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1. That Family Focus shall list 1819 Church Street, Evanston,
Illinois, for sale with a reputable real estate broker as soon as possible
but in any event not later than July 15, 1984; that said real estate broker..!
must be approved in advance by Evanston prior to the placement -of the real
estate listing.
2. That the listing price of 1819 Church Street may be based on an
informal or formal appraisal but in no event shall the listing.price be less:.,.
than Fifty Thousand and no/100 Dollars ($50,000.00). ' '=
3. Evanston shall have final approval of the ultimate purchaser
prior to any offer being accepted by Family Focus.
4. All costs, brokers'fees, title costs, insurance requirements,•,;`
etc., shall be deducted from the sale proceeds before distribution.is made to,
Evanston and Family Focus.
5. The net sale proceeds shall be distributed,as follows: (a) the.,
first Fifty Thousand and no/100 Dollars ($50,000.00),.or•if the net sale.;;:Fpa.4l
proceeds are less than Fifty Thousand and no/100 Dollars ($50,000.)OO),,all.of
the net sale proceeds,shall be paid to Evanston; and (b) the balance, if any,r
shall be paid to Family Focus.
6. Upon the sale of the property and distribution of the net sale....
proceeds,.Family Focus shall be relieved of any and all.liability resulting:;;;::`;
I from its execution of the aforesaid May 9, 1979, Note and Mortgage.
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ATTEST: CITY OF EVANSTON, a.municipal corporation
,_. oel M. Asprob`th, City Manager
ATTEST: FAMILY FOCUS, INC.
Date: �/ , 1984