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ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> No. 02-69 <br /> July 10, 2002 <br /> TO: Mayor Terry M. Howley and City Council Members <br /> FROM: Steve Gann ' y Manager <br /> A.J. Kriege s istant City Manager <br /> Dane Bragg, P, Economic Deve p nt Coordinator� <br /> SUBJECT: Decatur Genealogical Society Property Acquisition <br /> SUMMARY RECOMMENDATION: Staff recommends approval of this item as proposed. <br /> BACKGROUND: Attached to this memorandum is a resolution which, if approved, will <br /> authorize City staff to purchase the Decatur Genealogical Society property located at 356-366 <br /> North Main Street. The agreement calls for the City to purchase the property for $80,000 and <br /> provide $20,000 in relocation assistance, totaling $100,000. Per the agreement, the premises will <br /> be vacated within 120 days of closing, or by November 15, 2002. The Genealogical Society will <br /> retain salvage rights to the building. The acquisition of this property is an objective of the Olde <br /> Towne Redevelopment Plan. <br /> POTENTIAL OBJECTION: City staff is not aware of any objection. <br /> INPUT FROM OTHER SOURCES: The resolution and purchase agreement are attached to <br /> this memorandum. <br /> STAFF REFERENCE: If Council members have questions they may contact Dane Bragg by <br /> phone: 424-2725, or e-mail: dbrag�(�a,decaturnet.org. <br /> BUDGET/TIME IMPLICATIONS: <br /> Pending approval, this acquisition will be funded through the City's line of credit and take place <br /> either later this month or early August. <br /> I�I <br />