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Because the Garfield property consists of two legally platted lots, each lot requires its <br /> own Real Estate Purchase Agreement and corresponding Council resolution. Approval of <br /> these resolutions enables the developer to proceed with closing, secure final financing, <br /> and begin rehabilitation and construction. <br /> POTENTIAL OBJECTIONS: There are no known objections. <br /> STAFF REFERENCE: Should the City Council have any questions, they may contact, <br /> Lacie Elzy at 542-3559 or lelzy@,decaturil.gov <br /> BUDGET/TIME IMPLICATIONS: Upon Council authorization and execution of <br /> closing documents, the City will finalize the sale of both parcels. Proceeds will be <br /> deposited and processed in accordance with City policy. <br />