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LEGAL DEPARTMENT MEMORANDUM <br /> No. 93-8 <br /> May 12, 1993 <br /> TO: Honorable Mayor and City Council Members <br /> FROM: James C. Bacon, Jr. , City Manager <br /> John W. Couter, Corporation Counsel <br /> RE: Municipal Parking Lot 5 <br /> Since 1986, the City has been leasing Municipal Parking Lot <br /> 5 from the Downtown Decatur Taskforce and John and Elizabeth <br /> Ballog. Those leases provide that the City may purchase the <br /> property by paying a total of $267,000 to the Taskforce and the <br /> Ballogs. This option must be exercised no later than June 15, <br /> 1993 . A resolution authorizing the City Manager and the <br /> Corporation Counsel to exercise that option and purchase the <br /> property has been placed on the Council agenda for May 17. <br /> Staff recommends approval of the resolution. <br /> JWC:ps <br />