HomeMy WebLinkAbout31267 / 81-13:1PRIL 16, 1951
# 13 xESOLUTiorr
PURPOSE: ESTABLISHMENT OF SEEFLUTH PAINT COMPANY FAIR MARKET VALUE
AND PURCHASE OF SAME
INITIATED BY: CITY ADMINISTRA2ION
WHEREAS, the Co�on Council of the City of Oshkosh has approved the
Redevelopment Plan for the Oshkosh Centre Redevelopment Project No. 1; and
WfIEREAS, the Plan Commission has certified the project to the Cora¢on Council
as prescribed in Svisconsin statutes, Section 56.43 (5)(d); and
W�RF.AC, two appraisals have been made on the property described as
follows (covrmonly known as the Seefluth Paint Company, Inc.):
Moore's Subdivision of Lots 1 and 2, Block 3, Lots 4 and 5,
lst Ward, City of Oshkosh, Winnebago County, Wisconsin.
WHEREAS, a review appraisal has been submitted to the Common Council in
accordance with Title 3 ot the Uniform Relocation Assistance and Real Property
Acquisition Policies Act of 1970 and requirements of HUD Handbook 1376.1; and
WHEREAS, the property and interest to be acquired includes land and
buildings exclusive of equipment and fixtures, both moveable and i�novable;
NOW, THEREFORE, BE IT RESOLVID by the Common Council of the City of Oshkosh
that the Common Countil certifies that the work of the appraisers and the review
appraisal has been performed in a competent manner in accordance with applicable
state laws, the Uniform Act, and Department of Housing and Urban Development
policies and requirements;
-13�-
Si.'�,fT��i�^. BY
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BE IT FURTHER RESOLVED by the Co�on Council of the City of Oshkosh that
fair market value for the Seefluth Paint Company, Inc. property is hereby
established at SIXTY THOUSAND (560,000) DOLLARS, and that the proper City
officials are hereby authorized and directed to purchase said property in that
amount. Money for [his purpose is hereby appropriated from Account No. 331-104,
Oshkosh Downtoc�n Redevelopment Fund.
BE IT FURTFiER RESOLVED that the proper City officials are hereby authorized
and directed to transfer the sum of $60,000 from Account No. 310-550, Generai
Fund Equity to Account No. 331-104, Oshkosh Downtown Redevelopment Fund. Said
money to be repaid to Account No. 310-550, General Fund Equity, from the proceeds
of promissory notes issued pursuant to Section 67.1212 of the Wisconsin Statutes.
-13B-
S??3'.;;'�^ED BY
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