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HomeMy WebLinkAbout99-4-6017175 ORDINANCE NO. 99-4-6017 AN ORDINANCE PROVIDING AUTHORITY TO THE MAYOR TO AWARD THE PROPERTY LOCATED AT 425-431 BROADWAY, 122 N. 5TH STREET AND 129 N. 4TH STREET TO DUKE & LONG DISTRIBUTING COMPANY, INC. AND EXECUTE ON BEHALF OF THE CITY A CONTRACT, OR CONTRACTS, OF SALE, DEED AND OTHER NECESSARY DOCUMENTS TO FACILITATE THE SALE OF THE PROPERTY LOCATED AT 425-431 BROADWAY, 122 N. 5TH STREET AND 129 N. 4TH STREET TO DUKE & LONG DISTRIBUTING COMPANY, INC. WHEREAS, revitalization of the Downtown area of Paducah is important to the City of Paducah, Kentucky; and, WHEREAS, unoccupied buildings in the City of Paducah Downtown area affect the City of Paducah, Kentucky and present an opportunity for Downtown development; and, WHEREAS, a building located at 425 Broadway, with associated parking, is being purchased by the City and the City has solicited proposals for the rehabilitation, reuse and transfer of the properties; WHEREAS, Duke & Long Distributing Company, Inc. (hereafter "Duke & Long") has completed and submitted a Proposal/Bid Form for the purchase of the building located at 425 Broadway, with associated parking, and the City desires to award the property to Duke & Long based on Duke & Long's Proposal; WHEREAS, the City of Paducah, Kentucky, through its Board of Commissioners, has determined that the sale of these premises is in the public interest and will assist with continued Downtown revitalization. BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY: SECTION 1. That the property is subject to a request for proposals dated March 18, 1999, with addenda as have been released by the City of Paducah. SECTION 2. That the City Manager, on behalf of the City of Paducah, has declared the subject properties surplus. SECTION L That the Mayor, on behalf of the City of Paducah, Kentucky, is hereby authorized to execute a Contract of Sale, Deed and any other documents necessary for the sale of the property located at 425-431 Broadway to Duke & Long. SECTION 4. That the Mayor, on behalf of the City of Paducah, Kentucky, is hereby authorized to execute a Contract of Sale, Deed and any other documents necessary for the sale of the property located at 122 N. 5th Street to Duke & Long. SECTION 5. That the Mayor, on behalf of the City of Paducah, Kentucky, is hereby authorized to execute a Contract of Sale, Deed and any other documents necessary for the sale of the property located at 129 N. 4th Street to Duke & Long. SECTION 6. That time is of the essence in preserving the sale of the property to Duke & Long Distributing Company, Inc., a ready, willing and able Purchaser, 176 which will enhance the economic development of the Downtown area of Paducah, and in order to complete the project proposed by Duke & Long during the current construction season, an emergency is hereby declared to exist and this ordinance shall become effective immediately with one reading. ATTEST: i�2LL� Ity C erk Introduced and adopted by the Board of Commissioners April 5, 1999 Recorded by Lenita Smith, City Clerk, April 5, 1999 Publlished by The Paducah Sun April 9, 1999 4 I hereby certify that the above is a true and correct copy of an ordinance adopted by the City of Paducah on April 5, 1999. winword/realest/penney Lenita Smith, City Clerk