HomeMy WebLinkAbout2010-12-7776131011
ORDINANCE NO. 2010-12-7776
AN ORDINANCE AUTHORIZING AND APPROVING THE TRANSFER OF
5.82 + ACRES OF REAL PROPERTY LOCATED ON OLD NORTH FRIENDSHIP ROAD
IN PADUCAH, McCRACKEN COUNTY, KENTUCKY, TO SCHOLAR HOUSE OF
PADUCAH LLC 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, City, College, Scholar House, PHS, and Wabuck are entering into a
Memorandum of Agreement (the "MOA") which sets forth in summary form the intention of the
Project and the rights, responsibilities, and obligations of each of the parties with respect to the
Project; and
WHEREAS, City now desires to authorize the transfer to Scholar House, pursuant
to the terms and conditions of the MOA, of the 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 the sole purpose of the
construction and development of the Project; and
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 transfer of the Property from the City of Paducah, Kentucky, to
Scholar House pursuant to and in consideration of the terms and conditions set forth in the
MOA. It is hereby found and determined that the conveyance is public property to be used by
Scholar House for the public purposes of constructing and developing a Scholar House of
Paducah which will provide new affordable housing to low-income parents as they pursue an
education of higher learning above their secondary level. It is further determined that the Mayor,
on behalf of the City of Paducah, Kentucky, is hereby authorized to execute the special warranty
deed and any other documents necessary to transfer the Property in accordance with this
Ordinance.
SECTION 2. Corporate Counsel is authorized to prepare the special warranty deed
and any other documents necessary to accomplish and consummate the transfer of the Property from
the City to Scholar House in accordance with this Ordinance and the MOA.
SECTION 3. If any section, paragraph or provision of this Ordinance shall be held to
1:
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 4. 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 5. This ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS Chapter 424.
ATTEST:
JafY7� 4'��
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 City Clerk, December 14, 2010
Published by The Paducah Sun, December 21, 2010
ord\property-scholar house -transfer
E
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 1/z" 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 1/2" diameter rebar and cap (set) are 1/z" 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 1/2" 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 1/2" 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 1/2" 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 1/2" 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.
9
1, - - — ---- - —. .