HomeMy WebLinkAboutOrdinance #2013ORDINANCE NO. 2 013
AN ORDINANCE AUTHORIZING THE SALE OF MUNICIPALLY OWNED REAL
PROPERTY LOCATED AT THE SOUTHWEST CORNER OF MAIN AND LOCUST
STREETS WITHIN THE CANTON, IL
WHEREAS, the City of Canton acquired fee simple title to a vacant parcel of real estate
from Shell Oil company on or about February 15, 1967, commonly known as the southwest
corner of Main and Locust Streets, Canton, Illinois, legally described hereinafter; and
WHEREAS, the City Council of the City of Canton has determined that it is no longer
necessary, appropriate, or in the best interest of the City of Canton that it retain title to said real
estate, and that said real estate is not required for the use of, or profitable to, the municipality;
and
WHEREAS, pursuant to Section 11-76-2 of the Illinois Municipal Code (65 ILCS 5/11-
76-2) notice was given of the proposal to sell such real estate and bids were invited for the
purchase of such real estate, said notice having been published on March 10, 2010, March 17,
2010 and March 24, 2010 in The Daily Ledger, a daily newspaper published in the municipality;
and
WHEREAS, pursuant to said notice, bids were opened at the City Council meeting on
April 13, 2010; and
WHEREAS, the following bid for the purchase of said property were received;
BIDDER
AMOUNT
CGI Real Estate Holdings, LLC $40,000.00
WHEREAS, the City Council finds and determines that the best interests of the City of
Canton and its residents will be served by the acceptance of the bid submitted by CGI Real
Estate Holdings, LLC and the sale of the aforesaid real estate to such bidder for the amount bid
of $40,000.00, which amount represents the highest and best bid, contingent upon the City of
Canton and CGI Real Estate Holdings, LLC executing a Development Agreement within sixty
(60) days of the effective date of this ordinance; said agreement containing commercially
reasonable and usual and customary terms for similar development agreements between
developers and municipalities;
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Canton,
Fulton County, Illinois, as follows:
SECTION ONE: The City Council finds as facts the recitals hereinabove set forth.
SECTION TWO: The bid of CGI REAL ESTATE HOLDINGS, LLC in the amount of
$40,000.00 is hereby accepted by the City Council of the City of Canton contingent upon
terms outlined above for the sale of the following legally described real estate:
Lot 94 of the Original Town Addition to the City of Canton, as recorded in Fulton
County, Illinois.
Tax ID #: 09-08-27-409-001 and 09-08-27-409-002
SECTION THREE: Upon the payment or securing of the aforesaid bid price, the Mayor
is hereby authorized and directed to convey and transfer the aforesaid real estate to the
above-referenced bidders by proper deeds of conveyance, stating therein the aforesaid
consideration, and the City Clerk is hereby authorized to acknowledge and attest such
deed and to affix thereto the seal of the City of Canton.
SECTION FIVE: The Mayor and the Clerk are hereby authorized, respectively, to
execute and attest such other documents as may be necessary to the conveyance herein
authorized.
SECTION SIX: This ordinance shall be in full force and effect from and after its passage,
by a vote of at least three fourths of the corporate authorities now holding office, and
approval in the manner provided by law.
PASSED THIS 17th DAY OF AUGUST , 2010
AYES: ALDERMEN WEST, SARFF, REED, HARTFORD, PICKEL, RIVERO, ELLIS
NAYES: NONE
ABSENT: ALDERMAN ERIC SCHENCK
APPR
Kevin R. Meade, May r
__.--
~~~
~~L
Dia ucker, City Clerk