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HomeMy WebLinkAbout95-10-5373341 ORDINANCE NO. 95-10- 5,373 AN ORDINANCE AUTHORIZING THE MAYOR TO ENTER INTO A CONTRACT WITH ROBERT P. PETTER, ET AL, IN THE AMOUNT OF $1,195,000 TO ACQUIRE VARIOUS PROPERTIES LOCATED ALONG SOUTH FIRST STREET, SOUTH ~~ SECOND STREET AND KENTUCKY AVENUE, IN THE CITY OF PADUCAH, McCRACKEN COUNTY, KENTUCKY BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY: SECTION 1. The Mayor is hereby authorized to enter into a contract with Robert P. Petter, et al, in the amount of $1,195,000 for the acquisition of various parcels of property, free and clear of any and all liens and encumbrances, located at 117 South First Street, 117 and 121 Kentucky Avenue, 106, 108, 110, 112, 114, 116, 118 and 230 South Second Street in the City of Paducah, McCracken County, Kentucky. The Mayor is further authorized to negotiate and to enter into an option to purchase and/or right of first refusal of the property located at Second and Washington Streets, owned by Robert P. Petter, Jr. and Frederika Petter, known as the "pipe lot", subject to Commission approval. SECTION 2. This property is more particularly described as follows: TRACT I. 117 South First Street, owned by Stanley D. Petter, Jr., et al, -~ Robert P. Petter, Robert P. Petter, Jr. and Frederika Petter: i Beginning at the intersection of the south right-of--way line of Broadway and the west right-of--way line of South First Street; thence in a southerly direction along the west right-of--way line of South First Street a distance of 346.5' to the intersection of the north right-of--way line of Kentucky Avenue; thence at right angles and in a westerly direction along the north right-of--way line of Kentucky Avenue a distance of 173.25' to the intersection of the east right-of--way line of Maiden Alley; thence at right angles and in a northerly direction, along the east right-of--way line of Maiden Alley a distance of 346.5' to the intersection of the south right-of--way line of Broadway; thence at right angles and in an easterly direction along the south right-of--way line of Broadway a distance of 173.25' to the point of beginning. Said property, also being lots 37-42 of block 6 as recorded in the Old Town plat of the City of Paducah. TRACT II. 121 Kentucky Avenue -owned by Robert P. Petter, Jr. & Frederika Petter: Beginning at a point in the north right-of--way line of Kentucky Avenue 49.25' from the northwest corner of the intersection of Kentucky Avenue and Maiden Alley; thence in a westerly direction along the north right-of--way line of Kentucky ~,.., Avenue a distance of 24' to a point; thence at right angles in a northerly direction a ( ~;'~ distance of 57.75' to a point; thence at right angles in an easterly direction a ~~~''" distance of 24' to a point; thence at right angles in a southerly direction a distance of 57.75' to the point of beginning. ,.. I ~ . ..,. «< , ....w~m~ ~. ~..« I „ ...I i ~ « „I~..~~.iu~-r~lil~J, w ~ IJ,»Il. i ~,- I , I 342 TRACT III. 117 Kentucky Avenue -owned by Robert P. Petter: Beginning at the intersection of the north right-of--way line of Kentucky Avenue and the west right-of--way line of Maiden Alley; thence in a westerly direction along the north right-of--way line of Kentucky Avenue a distance of 49.25' to a point; thence at right angles in a northerly direction a distance of 57.75' to a point; thence at right angles in an easterly direction a distance of 49.25' to a point located in the west right-of--way line of Maiden Alley; thence at right angles in a southerly direction along the west right-of--way line of Maiden Alley a distance of ,~ 57.75' to the point of beginning. ~ I I, TRACT IV. 106, 108, 110, 112, '114, 116 & 118 -South Second Street owned by Robert P. Petter: Beginning at a point on the east right-of--way line of South Second Street between Broadway and Kentucky Avenue, 57.75' from the intersection of the south right- of-way line of Broadway and the east right-of--way line of South Second Street; thence in an easterly direction a distance of 101.25' to a point; thence at right angles in a southerly direction a distance of 10' to a point; thence at right angles in an easterly direction a distance of 72' to a point located in the west right-of--way line of Maiden Alley; thence at right angles in a southerly direction along the west right-of--way line of Maiden Alley a distance of 182.51' to a point; thence at right angles in a westerly direction a distance of 87.21' to a point; thence at right angles in a northerly direction a distance of 48.13' to a point; thence at right angles in a westerly direction a distance of 86.04' to a point located in the east right-of--way line of South Second Street; thence at right angles in a northerly direction along the east right-of--way line of South Second Street a distance of 144.38' to the point of beginning. TRACT V. 230 South Second Street -owned by Robert P. Petter, 7r., & Frederika Petter: ~ II ~~ Beginning at the northeast intersection of South Second Street and Washington Street; thence in an easterly direction along the north right-of--way line of Washington Street a distance of 173.25' to the intersection of the west right-of- way line of Maiden Alley; thence at right angles and in a northerly direction along the west right-of--way line of Maiden Alley a distance of 140.5' to a point; thence at right angles and in a westerly direction a distance of 173.25' to a point located in the east right-of--way line of South Second Street; thence at right angles in a southerly direction along the east right-of--way line of South Second Street a distance of 140.5' to the point of beginning. SECTION 3. The City of Paducah shall recover the monies expended for purchase of the various tracts as above set out upon the sale of same to entities designated for public purposes and uses; said sale proceeds to be placed by the City of Paducah in a revolving fund to further the continued economic development of the downtown redevelopment project. SECTION 4. This expenditure shall be charged to Account No. SECTION 5. This ordinance shall be read on two separate days and will become effective upon summary publication pursuant to KRS Chapter 424. V 343 ATTEST: enit Smith, City Clerk Introduced by the Board of Commissioners September 26, 1995 Adopted by the Board of Commissioners October 3 , 1995 ,~,~. ~ Recorded by Lenita Smith, City Clerk, October ~~, 1995 Published by The Paducah Sun, b~Sd~~.1995 ~~~ ~~ ~, r-,.- f ...... , .,-~--~....._ ,---_ ~..~ ... ,,.