HomeMy WebLinkAbout2010-12-7775131002
ORDINANCE NO. 2010-12-7775
AN ORDINANCE AUTHORIZING AND APPROVING THE PURCHASE OF
5.82 + ACRES OF REAL PROPERTY LOCATED ON OLD NORTH FRIENDSHIP ROAD IN
PADUCAH, McCRACKEN COUNTY, KENTUCKY, FROM PADUCAH JUNIOR
COLLEGE, INC., FOR THE CONSTRUCTION AND DEVELOPMENT OF SCHOLAR
HOUSE OF PADUCAH, A PUBLIC PROJECT
WHEREAS, in pursuit of its public purposes to provide to its citizens low-cost and
affordable housing within the corporate boundaries and to promote the development of a skilled
workforce, the City of Paducah, Kentucky ("City") has determined that it is desirable to participate in
the construction and development of a Scholar House of Paducah project (the "Project") with
Paducah Junior College, Inc. ("College"), Scholar House of Paducah, LLC ("Scholar House"),
Paducah Housing Services, LLC ("PHS"), and Wabuck Development Company, Inc. ("Wabuck");
and
WHEREAS, the Project entails the construction and operation of a new affordable
housing development for low-income parents as they pursue an education of higher learning above
their secondary level pursuant to the guidelines required by the State of Kentucky's Priority Set
Aside of 2011 as outlined in Kentucky's Qualified Allocation Plan for Federal Low -Income Housing
Tax Credits as administered by Kentucky Housing Corporation and Section 42 of the Internal
Revenue Code; and
WHEREAS, in order to accomplish the aforesaid public purposes the Board of
Commissioners of the City of Paducah has determined that it is necessary, appropriate, or in the best interes
of the City to purchase 5. 82 + acres of real property located on Old North Friendship Road in Paducah,
McCracken County, Kentucky which is more particularly described on Exhibit "A," attached hereto (the
"Property") for purposes of the construction and development of the Project; and
WHEREAS, the Board of Commissioners of the City of Paducah has reached an agreement
for the purchase of the Property from College for the purchase price of One Hundred Sixteen Thousand Four
Hundred Dollars ($116,400.00), which is less than the fair cash value of the Property; and
WHEREAS, City now desires to authorize the purchase of the Property from the
College for purposes of the construction and development of the Project.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
PADUCAH, KENTUCKY, AS FOLLOWS:
SECTION 1. The Board of Commissioners of the City of Paducah hereby approves
and consents to the purchase and acquisition of the Property from College for the purchase price of
One Hundred Sixteen Thousand Four Hundred Dollars ($116,400.00), which is less than the fair
cash value of the Property. It is hereby found and determined that the acquisition is public property
to be used for the public purposes of the City. It is further determined that the Mayor, on behalf of
the City of Paducah, Kentucky, is hereby authorized to execute the warranty deed and any other
documents necessary to accomplish and consummate the purchase and acquisition of the Property in
accordance with this Ordinance.
SECTION 2. The Finance Director is hereby authorized to make said expenditure approved
in Section 2 from project account CD0041.
SECTION 3. 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 warranty deed and any other documents necessary to accomplish
and consummate the purchase and acquisition of the Property from College in accordance with this
Ordinance.
SECTION 4. 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 5. 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 6. 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 7. This ordinance shall be read on two separate days and will become effective
upon summary publication pursuant to KRS Chapter 424.
ATTEST: I
J &Y-Yu�&X.0' � -
Tammara S. Brock, City Clerk
Introduced by the Board of Commissioners, December 7, 2010
Adopted by the Board of Commissioners, December 14, 2010
Recorded by Tammara S. Brock, City Clerk, December 14, 2010
Published by The Paducah Sun, December 21, 2010
ord\property-scholar house -purchase
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EXHIBIT A
A certain tract of land as surveyed by David H. Dummer, Jr. PLS No. 1955 of the firm of Dummer
Surveying & Engineering Services, Inc. of Paducah, Kentucky on October 6, 2004, located on the south
side of Alben Barkley Drive (U.S. Highway 62) and west side of Old North Friendship Road in
McCracken County, Kentucky, and being more particularly described as follows:
Beginning at a''/2" diameter rebar and cap (set) 20.00 feet west at right angles from the centerline
of Old North Friendship Road, said centerline point being located 93.50 feet south with said
centerline from the centerline intersection of the physical centerline of Woodway Drive and Old
North Friendship Road, said beginning point being the southeast corner of the herein described
tract of land, (all '/2" diameter rebar and cap (set) are '/2" diameter x 24" long with a plastic cap
stamped "D.H.Dummer PLS 1955");
THENCE North 02 degrees 06 minutes 15 seconds East for a distance of 576.20 feet with the
west right-of-way line of Old North Friendship Road to a '/2" diameter rebar and cap (set) 20.00
feet west at right angles from the centerline of said road;
THENCE along a curve to the left having a radius of 170.99 feet and an are length of 224.64 feet,
being subtended by a chord of North 35 degrees 32 minutes 00 seconds West for a distance of
208.83 feet with the west right-of-way line of said road to a'/2" diameter rebar and cap (set) 20.00
feet south at right angles from the centerline of said road;
THENCE North 73 degrees 10 minutes 15 seconds West for a distance of 227.96 feet with the
south right-of-way line of said road to a'/2" diameter rebar and cap (set) 20.00 feet south at right
angles from the centerline of said road;
THENCE South 02 degrees 08 minutes 33 seconds West for a distance of 767.25 feet with the
east line of the Paducah Highland Terrace, LTD property described in Deed Book 631, Page 132,
and Plat Book Section "H", Page 326 to a'/2" diameter rebar and cap (set) in the north line of the
Dean W. Boe property described in Deed Book 968, Page 83, Plat Section "H", Page 340;
THENCE South 82 degrees 36 minutes 27 seconds East for a distance of 350.00 feet with the
north line of the Dean W. Boe property [passing through a 6" diameter concrete monument with
cap stamped "RLS 113" (found) at 344.29 feet] to the point of beginning.
Together with and subject to covenants, easements, right-of-ways and restrictions of record and
in existence.
Said property contains 5.8211 acres or 253,566 square feet. Bearings described herein are based
on a magnetic observation taken at the time of this survey.
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