HomeMy WebLinkAbout93-4-4923JILL _J 1.., 111�""k,14
90
ORDINANCE NO. 93-4-4923
AN ORDINANCE APPROVING THE SALE OF 108-110 SOUTH
THIRD STREET, PADUCAH, KENTUCKY TO PADUCAH-MCCRACKEN COUNTY
GROWTH, INC.
WHEREAS, the subject property was acquired by the
City of Paducah and McCracken County, Kentucky by a deed in
lieu of foreclosure as a result of delinquent taxes on the
property; and
WHEREAS, Paducah -McCracken County Growth, Inc. has
given a commitment to the City of Paducah and McCracken County,
Kentucky to renovate the subject property so as to make the
property habitable and useful so as to place the subject
property back on the active tax rolls, all to the benefit to
the City of Paducah.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF
PADUCAH, KENTUCKY:
SECTION 1. That the sale of the real estate to
Paducah -McCracken County Growth Inc. be approved for the
consideration of the commitment of Paducah -McCracken County
Growth, Inc. to renovate the property for a use suitable to the
downtown area and to place the property back on the active tax
rolls all to the benefit of the citizens of the City of
Paducah.
SECTION 2. Corporate counsel is hereby authorized to
prepare a deed for the above-described property to Paducah -
McCracken County Growth, Inc. and that the appropriate official
of the City of Paducah is hereby authorized to enter into and
execute said deed of conveyance and any and all other documenta-
tion necessary to effectuate the sale of the aforesaid property.
SECTION 3. In order to remove this property from the
City's obligations of liability as soon as possible this
ordinance shall have one reading and will become effective upon
passage. A summary of this ordinance shall be published
pursuant to KRS Chapter 424.
/ L"-Allw��
ay
Introduced and adopted by the Board of Commissioners April 6,
1993
Recorded by Lenita Smith, City Clerk, April 6, 1993
Published by The Paducah Sun, April 10, 1993.
\dw5\ord\south3rd