HomeMy WebLinkAbout90-351 OCTOBER 4, 1990 90-351 RESOLUTION
(CARRIED__ _ LOST_ LAIDOVER WITHDRAWN �_ )
PURPOSE: AUTHORIZE CITY TO PURCHASE BACK PROPERTY FROM
EASTERN TECHNOLOGIES/SOUTHWEST INDUSTRIAL PARK
INITIATED BY: CITY ADMINISTRATION
WHEREAS, a parcel of land in the Southwest Industrial Park
was sold to Eastern Technologies, Inc. in 1983, and
WHEREAS , a condition of that sale was that certain
improvements be made or the City through Chamco would have the
right to purchase the property, and
WHEREAS , no improvements have been made and Eastern
Technologies had indicated that none will be made on said parcel.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the
City of Oshkosh that the repurchase clause in the original
agreement is ratified and the action of Chamco and the City in
repurchasing said property is approved.
BE IT FURTHER RESOLVED, that the repurchase price as set
forth in the original agreement is the amount of $236 ,167.20 is
hereby appropriated from the T.I.F. District created for the
Southwest Industrial Park.
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