HomeMy WebLinkAbout2016-196-3/21/2016 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2016-196
RESOLUTION AUTHORIZING THE SALE AND
CONVEYANCE OF CITY-OWNED PROPERTY GENERALLY
LOCATED SOUTHEAST OF 500 EAST 4TH STREET (THE
FORMER AMERICAN LEGION PROPERTY) TO KWWL
TELEVISION, INC. FOR $1 . 00 IN ACCORDANCE WITH
THE DEVELOPMENT AGREEMENT.
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 has been made by KWWL Television, Inc. for $1 . 00, and
WHEREAS, a public hearing was held on March 21, 2016 at 5 : 30
p.m. in the Harold E. Getty Council , Chambers, 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 KWWL Television, Inc. , and
WHEREAS, it is the opinion of this Council that the 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
March 17, 2016, 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 Realty Income Corporation, to purchase
real property for the sum of $1 . 00, in accordance with the
Development Agreement approved by Resolution No. 2013-542 on June
24, 2013, is hereby accepted for real property described as
follows :
LOT NO. 5; THE SOUTHWESTERLY 20 FEET OF THE SOUTHEASTERLY 90
FEET, AND THE SOUTHWESTERLY 10 FEET OF THE NORTHWESTERLY 60
FEET OF LOT NO. 4; AND THE SOUTHEASTERLY 55 FEET OF THE
NORTHWESTERLY 65 FEET OF LOTS NOS. 8 AND 9, ALL IN BLOCK NO.
60 IN THE COOLEY ADDITION TO WATERLOO, IOWA.,
GRANTOR IS IOWA POLITICAL SUBDIVISION. EXEMPT FROM REAL
ESTATE TRANSFER TAX AND DECLARATION OF VALUE.
SUBJECT TO EASEMENTS, CONDITIONS, AND RESTRICTIONS OF
RECORD, GENERAL UTILITY AND RIGHT-OF-WAY EASEMENTS SERVING
THE REAL ESTATE, AND RESTRICTIONS IMPOSED BY APPLICABLE LAW
OR ORDINANCE.
3 . That the City of Waterloo, Iowa conveys said parcel of
real property to KWWL Television, Inc. by Special, Warranty Deed.
4 . That the Mayor and City Clerk are authorized and
directed to execute said deed.
5 . That the original of said Special Warranty Deed fully
executed and acknowledged is hereby approved and confirmed by
this Council .
Resolution No. 2016-196
Page 2
6. That the Planning and Zoning Director is authorized and
directed to deliver said deed of conveyance to KWWL Television,
Inc. upon receipt in the sum of $1. 00 .
PASSED AND ADOPTED this 21St day of March, 2016.
Quentin Hart, Ma,yor
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