HomeMy WebLinkAbout2015-07-8276322
ORDINANCE NO. 2015-7-8276
AN ORDINANCE AUTHORIZING AND APPROVING THE
ACQUISITION OF THE REAL PROPERTY LOCATED AT 432 BROADWAY,
PADUCAH, MCCRACKEN COUNTY, KENTUCKY FOR PURPOSES OF PUBLIC
SAFETY
WHEREAS, 432 Broadway, L.L.C., a Texas limited liability company,
190000
("L.L.C.") is the current owner of the real property including all structures and improvements
located at 432 Broadway, Paducah, McCracken County, Kentucky, which is more particularly
described on Exhibit "A," attached hereto (the "Property"); and
WHEREAS, the structural integrity of the Properly located at 432 Broadway,
Paducah, McCracken County, Kentucky, have deteriorated causing need for the City of Paducah
to condemn the property; and
WHEREAS, the L.L.C. does not have the financial means to bring the Property
up to code or the financial means to pay for the demolition of the Property; and
WHEREAS, for the welfare and safety of the citizens of the City of Paducah, the
Board of Commissioners deem it is necessary for the City of Paducah to acquire the Property
from the L.L.C. for the sum of $1.00 and to proceed with demolition of the structure; and
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The Board of Commissioners of the City of Paducah hereby
approves and consents to the acquisition of the Property and the execution of the Purchase
Agreement and Deed of Conveyance in order for the City to acquire the Property for the sum of
$1.00. It is further determined that the Mayor, on behalf of the City of Paducah, Kentucky, is
hereby authorized to execute the transaction documents and any other documents necessary to
accomplish and consummate the acquisition in accordance with this Ordinance.
SECTION 2. That the Board of Commissioners of the City of Paducah
authorizes the purchase of the Property for the sum of $1.00 as set out in the Purchase Agreement
and Deed from L.L.C. to City of Paducah.
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SECTION 3. The Finance Director is hereby authorized to make said expenditure
approved in Section 2 from project account O dY 0 g R :9 060 30 9
SECTION 4. Corporate Counsel is hereby authorized to conduct such due
diligence and investigation as it deems necessary and in the best interest of the City. Further
Corporate Counsel is authorized to prepare the purchase agreement, deed, closing statement and
any other documents necessary to accomplish and consummate the acquisition between the
L.L.C. and City.
SECTION 5. If any section, paragraph or provision of this Ordinance shall be
held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such
section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance.
SECTION 6. This City Commission hereby finds and determines that all formal
actions relative to the adoption of this Ordinance were taken in an open meeting of this City
Commission, and that all deliberations of this City Commission and of its committees, if any,
which resulted in formal action, were in meetings open to the public, in full compliance with
applicable legal requirements.
SECTION 7. All ordinances, resolutions, orders or parts thereof in conflict with
the provisions of this Ordinance are, to the extent of such conflict, hereby repealed and the
provisions of this Ordinance shall prevail and be given effect.
SECTION 8. This ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS Chapter 424.
Tammara S. Sanderson, City Clerk
Introduced by the Board of Commissioners, July 14, 2015.
Adopted by the Board of Commissioners, July 21, 2015.
Recorded by Tammara S. Sanderson, City Clerk, July 21, 2015.
Published by The Paducah Sun, :—N u I I Z 0 , 2015.
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EXHIBIT "A"
BEING A 2779.20 SQUARE FOOT TRACT LOCATED AT THE
SOUTHWEST CORNER OF THE INTERSECTION OF BROADWAY AND
SOUTH FIFTH STREET, AS SHOWN ON THE WAIVER OF SUBDIVISION
OF THE A. S. FROCKT PROPERTY OF RECORD IN PLAT SECTION "H",
PAGE 247, MCCRACKEN COUNTY COURT CLERK'S OFFICE.
BEING THE SAME PROPERTY CONVEYED TO 432 BROADWAY L.L.C.,
A TEXAS LIMITED LIABILITY COMPANY, BY DEED DATED AUGUST
15, 2007, OF RECORD IN DEED BOOK 1128, PAGE 490, MCCRACKEN
COUNTY COURT CLERK'S OFFICE.
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