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HomeMy WebLinkAbout7833RESOLUTION NO. 7833 A RESOLUTION APPROVING THE ACQUISITION OF REAL PROPERTY IN CONNECTION WITH A JOB CREATING CAPITAL IMPROVEMENT PROJECT AND AUTHORIZING THE EXPENDITURE OF $600,000 THEREFOR FROM THE 1992 -2001 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND WHEREAS, the Pueblo Economic Development Corporation has submitted to the City an application for funding for the purchase of real property in connection with a job creating capital improvement project within the City, and WHEREAS, the City Council is willing to approve such application for funds upon the terms and conditions set forth herein, NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The City Council does hereby find and determine that Pueblo Economic Development Corporation's application for funds meets and complies with the criteria and standards established by Ordinance No. 5742 and will create employment opportunities justifying the expenditure of public funds. SECTION 2. Funds in an amount not to exceed $600,000 plus the reasonable costs of closing, including title insurance, are hereby authorized and appropriated to be expended and made available out of the 1992 -2001 Sales And Use Tax Capital Improvement Projects Fund for the purpose of acquiring in the name of the City marketable title to the property described in the attached Exhibit "A" free from liens and encumbrances (the "Property "). SECTION 3. The acquisition by warranty deed of marketable title to the Property by the City is hereby approved and the appropriate officers of the City are authorized to execute any and all documents necessary and required for such acquisition. SECTION 4. This Resolution shall become effective nunc pro tunc January 31, 1996. INTRODUCED March 25, 1996 By Charles Jones Councilperson ATTEST: APPROVED: City Cler , Preside n of the City Council -2- EXHIBIT "A" Lot 13 and South half of Lots 14, 15 and 16, Block 32, in the Town, now City of Pueblo, according to the plan of Pueblo made for the Probate Judge of said Pueblo County by H. M. Fosdick, Engineer; also that portion of the North 10 feet in width of Second Street adjoining said Lot 13 and said South half of Lots 14, 15 and 16, County of Pueblo, State of Colorado UNk The East 26 feet of Lot 10 and the West 20 feet of Lot 11, Block 32, in the Town, now City of Pueblo, according to the plan of Pueblo as surveyed and platted for the Probate Judge of said Pueblo County by H. M. Fosdick, Engineer; Also that portion of the Northerly 10 feet in width of Second Street adjoining said East 26 feet of Lot 10 and the West 20 Feet of Lot 11 on the South; All of Lot 12 and the East 24 feet of Lot 11, Block 32 in the Town, now City of Pueblo, as surveyed by H. M. Fosdick, Engineer, for the Probate Judge of said County, TOGETHER WITH a strip of land 10 feet in width, lying immediately South of and contiguous to the South end of said Lot 12 and the East 24 feet of Lot 11; said 10 foot strip being 10 feet in width off the North side of Second Street in said former Town, now City of Pueblo; which strip was vacated and discontinued and attached to the lots adjoining thereto by an Act of the Council and House of Representatives of Colorado Territory, entitled "An Act to Change Certain Streets and Alleys in the Town of Pueblo ", approved February 8th, A.D. 1870, County of Pueblo, State of Colorado.