HomeMy WebLinkAbout2012-153-02/20/2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-153
RESOLUTION AUTHORIZING THE SALE AND
CONVEYANCE OF CITY -OWNED PROPERTY GENERALLY
LOCATED AT THE NORTHEAST CORNER OF FRANKLIN
STREET AND HIGHWAY 63 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 Cooley's Addition, City of Waterloo, Black
Hawk County, Iowa, more particularly described as
follows:
Beginning at the most Southerly corner of Lot One (1)
in Block Sixty -Four (64) of said Cooley's Addition;
Thence North 49°05'59" West on the Northeasterly right
of way line of Franklin Street, 442.18 feet to the East
right of way line of Mullan Avenue (also known as US
Highway 63);
Thence North 1°09'14" West on said right of way line,
189.59 feet; Thence North 8°18'48" East on said right
of way line, 23.75 feet to the beginning of a 289.14 -
foot radius curve concave Easterly and having a long
chord of 138.40 feet bearing North 22°45'20" East;
Thence Northeasterly on the arc of said curve and on
said right of way line, 139.76 feet;
Thence North 1°09'14" West on said right of way line,
10.86 feet to the Southwesterly right of way line of
Walnut Street;
Thence South 49°06'06" East on said right of way line,
6.78 feet to the beginning of a 289.14 -foot radius
curve concave Southeasterly and having a long chord of
Resolution No. 2012-153
Page 2
32.99 feet bearing North 41°28'25" East; Thence
Northeasterly on the arc of said curve, 33.00 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 17°13'21" East;
Thence Easterly on the arc of said curve, 43.54 feet to
the South right of way line of Almond Street;
Thence South 89°41'45" East on said right of way line,
236.86 feet to the West right of way line of Clay
Street;
Thence South 0°51'01" East on said West right of way
line and its Southerly prolongation, 298.78 feet to the
Southwesterly right of way line of Walnut Street;
Thence South 49°06'06" East on said Southwesterly right
of way line, 55.06 feet to the most Easterly corner of
Lot Sixteen (16) in said Block 64;
Thence South 40°43'41" West on the Southeasterly line
of said Lot 16 and its Southwesterly prolongation,
160.07 feet to the most Northerly corner of Lot Two (2)
in said Block 64;
Thence South 49°02'30" East on the Northeasterly line
of said Lot 2 and the Northeasterly line of Lot One (1)
in said Block 64, 121.93 feet to the most Easterly
corner of said Lot 1;
Thence South 40°43'41" West on the Northwesterly right
of way line of East 2nd Street, 140.20 feet to the
point of beginning.
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.
ATTEST:
uzy Scares, CMC
City Clerk
Y
44Z7
Ernest G. Clark, Mayor