HomeMy WebLinkAbout2012-152-02/20/2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-152
RESOLUTION AUTHORIZING THE SALE AND
CONVEYANCE OF CITY -OWNED PORTIONS OF ALMOND
STREET AND WALNUT STREET TO FEPH-ACQUISITIONS
FUND II, LLC, FOR $1.00, PLUS COSTS, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE AND DELIVER DEED FOR SAME.
WHEREAS, the City of Waterloo, Iowa, is the owner of real
property in the City of Waterloo, Iowa, as described below, and
WHEREAS, an offer to purchase said certain parcel of real
property in the sum of $1.00, plus costs, has been made by FEPH-
Acquisitions Fund II, LLC, and
WHEREAS, a public hearing was held on February 20, 2012, at
5:30 p.m. in the Council Chambers in City Hall, Waterloo, Iowa,
as provided by law, by the Council of the City of Waterloo, Iowa,
on the proposal to sell and convey premises owned by the City of
Waterloo, Iowa, to FEPH-Acquisitions Fund II, LLC, and
WHEREAS, it is the opinion of this Council that sale and
conveyance should be made as proposed.
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE COUNCIL OF THE
CITY OF WATERLOO, IOWA, AS FOLLOWS:
1. The following described real property, as fully
described in the published notice in the Waterloo Courier on
February 15, 2012, is not presently needed and will not be needed
in the foreseeable future for municipal purposes and its
ownership is serving no municipal purpose, and
2. That the offer of FEPH-Acquisitions Fund II, LLC to
purchase real property for the sum of $1.00, and costs, be and it
is hereby accepted for real property described below:
A portion of the right of way of Walnut Street, lying
between Almond Street and Clay Street, in Cooley's
Addition, City of Waterloo, Black Hawk County, Iowa,
and more particularly described as follows:
Beginning at the most southerly corner of Block Seventy
(70) in Said Cooley's Addition; Thence South 0°51'01"
East, 93.82 feet to the Southwesterly right of way line
of Walnut Street; Thence North 49°06'06" West on said
right of way line, 447.66 feet to the beginning of a
289.14 foot radius curve concave Southeasterly and
having a long chord of 9.54 feet bearing North
39°08'55" East; Thence Northeasterly on the arc of said
curve, 9.54 feet to the South right of way line of
Almond Street; Thence South 89°41'45" East on said
right of way line, 92.93 feet to the Northeasterly
right of way line of Walnut Street; Thence South
49°06'06" East on said right of way line, 314.92 feet
to the point of beginning.
Described parcel contains 0.62 acres.
And;
Resolution No. 2012-152
Page 2
A portion of the right of way of Almond Street, in Cooley's
Addition, City of Waterloo, Black Hawk County, Iowa, and
more particularly described as follows:
Beginning at the point of intersection of the South right of
way line of Almond Street with the Northeasterly right of
way line of Walnut Street, said point being North 89°41'45"
West, 236.86 feet from the Northeast corner of Block 70 in
said Addition, and said point also being the point of
beginning; Thence continuing North 89°41'45" West on said
South right of way line, 91.06 feet to the East right of way
line of Mullan Avenue and the beginning of a 289.14 -foot
radius curve concave Southeasterly and having a long chord
of 23.46 feet bearing North 42°25'07" East; Thence
Northeasterly on the arc of said curve, 23.46 feet to the
beginning of a 10.00 -foot radius curve concave Southerly and
having a long chord of 11.54 feet bearing North 79°59'50
East; Thence Easterly on the arc of said curve, 12.31 feet;
Thence South 64°44'56" East, 24.04 feet to the beginning of
a 100.00 -foot radius curve concave Northerly and having a
long chord of 43.20 feet bearing South 77°13'21" East;
Thence Easterly on the arc of said curve, 43.54 feet to the
point of beginning.
Described parcel contains 0.02 acres (807 sq. ft.).
3. That the City of Waterloo, Iowa convey said parcel of
real property to FEPH-Acquisitions Fund II, LLC by deed.
4. That the Mayor and City Clerk are hereby authorized to
execute and deliver deed to FEPH-Acquisitions Fund II, LLC.
5. That the original of said deed fully executed and
acknowledged is hereby approved and confirmed by the Council.
6. That the City Clerk is authorized and directed to
deliver said deed of conveyance to FEPH-Acquisitions Fund II, LLC
upon receipt of the sum of $1.00, and costs.
PASSED AND ADOPTED this 20th day of February, 2012.
finest Clark, Mayor
ATTEST:
Suzy Sch res, CMC
City Clerk