HomeMy WebLinkAbout99-3-6012167
ORDINANCE NO. 99-3-_ 0%Z
AN ORDINANCE PROVIDING AUTHORITY TO THE MAYOR TO
EXECUTE ON BEHALF OF THE CITY A CONTRACT, OR CONTRACTS, OF PURCHASE,
TO FACILITATE PURCHASE BY THE CITY OF PROPERTY LOCATED AT 425-431
BROADWAY, 122 N. 5"H STREET AND 121 N. 4TH STREET
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 available
for purchase and represents an opportunity for the City to purchase and either restore or resell the property
to an enterprise or enterprises, conditioned upon use that is compatible with Downtown revitalization and
increase in tax revenues; and,
WHEREAS, the City of Paducah, Kentucky, through its Board of Commissioners, has
determined that the purchase of these premises is in the public interest and will assist with continued
Downtown revitalization; and,
NOW, THEREFORE, be it ordained by the City of Paducah, Kentucky:
SECTION 1. That the Mayor, on behalf of the City of Paducah, Kentucky, is hereby
authorized to execute a Contract of Purchase for the property located at 425-431 Broadway.
SECTION 2. That the Mayor, on behalf of the City of Paducah, Kentucky, is hereby
authorized to execute a Contract of Purchase for the roe located at 122 N. 5`, Street.
property rty
SECTION 3. That the Mayor, on behalf of the City of Paducah, Kentucky, is hereby
authorized to execute a Contract of Purchase for the property located at 121 N. 4th Street.
SECTION 4. This ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS Chapter 424.
Albert Jones, Mayor
Attest:
City Clerk
Introduced by the Board of Commissioners: March 9,. 1999
Adopted by the Board of Commissioners: March 23, 1999
Recorded by Lenita Smith, City Clerk: March 23, 1999
Published by The Paducah Sun:
I hereby certify that the above is a true and correct copy of an ordinance adopted by the City of Paducah
on:
Lenita Smith, City Clerk