HomeMy Public PortalAbout14-2006-14 SCANNED
RESOLUTION NO.2006-
A RESOLUTION APROVING LOAN FOR PURCHASE OF PROPERTY FOR ROBE-ANN PARK
WHEREAS, the City of Greencastle, has the opportunity to purchase certain property adjacent to
Robe-Ann Park. Said property is specifically described in Attachment A,which is incorporated herein;
WHEREAS, the purpose of purchasing the property is the expansion of Robe-Ann Park and the
beautification of that area of the City;
WHERAS, the City has had two appraisals conducted for the property, and the agreed upon sale
price, 70,000, is less than the average of those appraisals; and
WHEREAS, the Greencastle Board of Parks and Recreation wishes to borrow the funds for the
purchase of the property from the Greencastle Citizens Advisory Commission for Industrial Development
(CACFID), and CACFID has sufficient funds available; and
WHEREAS, the Common Council of the City of Greencastle, by statute, must approve the use of
CACFID funds.
NOW THERFORE BE IT RESOLVED THAT THE COMMON COUNCIL OF THE CITY OF
GREENCASTLE approves the Citizens Advisory Commission for Industrial Development loaning up to
$70,500 (purchase price plus closing costs) for the purchase of real estate, described in Attachment A,to be
paid back in equal installments over ten(10)years. There will be no interest charged on the loan.
PASSED AND S VED by the Common Council of the City of Greencastle at its regular
meeting this I day of t' �� ,2006.
Tom Roach Robert Sedlack
M k Hammer J hn Lanie
Russe Evans
a
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Approved and signed by me this I( day of , 2006 atr 4 3 o'clock pm.
ancy A IVIichael, Mayor
AT ST:
Teresa Glenn, Clerk-Treasurer
0111
Attachment A
A tract of land located in part of Lots 8 and 9 of the Railroad Enlargement to the City of
Greencastle, more particularly described as follow:
Beginning at the Southeast corner of Lot 9 in the Railroad Enlargement to the City of
Greencastle; thence North 132 feet to a point; thence West 99 feet to a point; thence
South 132 feet to a point; thence East 99 feet to the place of beginning, and containing in
said tract of land 0.30 acres, more or less.
AND, a tract of land located in part of Lot 10 of the Railroad Enlargement to the City of
Greencastle, more particularly described as follows:
Beginning at a point 99 feet west of the southeast corner of Lot 10 of the Railroad
Enlargement to Greencastle; thence north 66 feet to a point; thence west 218.7 feet to a
point on the easterly line of Bloomington Street; thence south 30 degrees 52 minutes east
along said easterly line to the south line of Lot 10; thence east along said Lot line to the
place of beginning, and containing in said tract of land 0.30 acres, more or less.