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RESOLUTION # 170
AUTHORIZINGTHESALEOFSURPLUSREALESTATE
WHEREAS,
theCityofMomence is the owner of a tract of land borderedby Illinois Street,
Range Street inManufacturer’sAddition, andOhioStreet extended, in theCityofMomence, situated in
KankakeeCounty; and
WHEREAS,
said property is inneed of improvements, becoming a financial liability to theCity
ofMomence; and
WHEREAS,
theCityofMomence has received anoffer to purchase said land fromCharles
Navarro
,
whowishes to purchase said land for the purpose of expanding a business; and
WHEREAS,
it has beendetermined by theCityofMomence that said property is surplus real
estate after receiving awrittenMAI certified appraisal at a price not less than80%of the appraised value;
and
WHEREAS,
theCityofMomence has received anMAI appraisal of said real estatewhich
indicates the fairmarket value of ElevenThousand and No/100Dollars ($11,000.00); and
WHEREAS,
CharlesNavarro
has agreed to purchase said property from theCityofMomence at
a price of Eight ThousandEightHundred and No/100Dollars ($8,800.00), whichprice represents 80%of
the fairmarket value of the real estate; and
WHEREAS,
it is in the best interest of theCityofMomence that said real estate be sold, as set
forth above.
NOW, THEREFORE,
be it resolved by theCityCouncil of theCityofMomence, Kankakee
County, Illinois, as follows:
SECTION 1:
That theMayor, CityClerk, andCityAttorney are hereby authorized to do all
things, and take all actions necessary and appropriate to sell the property legallydescribed as follows:
a vacant lot;
Parcel IdentificationNumber: 06-10-24-222-023
Tract 2: Commencing at the intersectionofNorth line of Illinois Street and theWest line ofRange Street in
Manufacturer’sAdditionof theTownofMomence, Illinois; thenceWest along theNorth line of Illinois
Street, 322.0 feet to a point; thenceNorthon a line parallel with theWest line ofRange Street, 125.0 feet to
a point, said point to be known as the point of beginningof this description. From said point of beginning;
thenceWest on a line parallel with theNorth line of Illinois Street, 140.0 feet to a point; thenceNorthon a
line parallel with theWest line ofRange Street, 195.0 feet to a point South line ofOhioStreet extended;
thenceEast along the South line ofOhioStreet extended, 140.0 feet to a point; thence Southon a line
parallel with theWest line ofRange Street, 195.0 feet to the point beginning, situated inKankakeeCounty,
Illinois.
PRESENTED
to theCityCouncil of theCityofMomence, Illinois, this 7
th
dayof July, 2014.
