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COMMUNITY DEVELOPMENT <br /> MEMORANDUM <br /> 90 - 268 <br /> November 27, 1990 <br /> TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS <br /> FROM: JAMES C. BACON, JR. , CITY MANAGER <br /> DAVID A. CLARK, DIRECTOR OF DEPARTMENT OF COMMUNITY <br /> DEVELOPMENT <br /> SUBJECT: REAL ESTATE PURCHASE AGREEMENT <br /> The attached resolution will authorize the execution of a <br /> Real Estate Purchase Agreement with the First National Bank of <br /> Decatur Trust No. 3601. Under terms of the Agreement, the City <br /> agrees to purchase property located at 60 Industry Court for the <br /> sum of $90,000 . <br /> The aforesaid property will be the site for a proposed mass <br /> transit facility. The entire cost of the acquisition will be <br /> paid for by State and federal grant funds. The settlement date <br /> for the purchase has been set for December 12, 1990 . <br />