89-53 AUTHORIZING SALE OF LAND 1100 BLOCK OF SOUTH MAIN STREET

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/LL/NO/S POWER COMPANY r� 500 SOUTH 27TH STREET, DECATUR, ILLINOIS 62525-1805 May 26, 1989 James C. Bacon, Jr. City Manager City of Decatur 1 Civic Center Plaza Decatur, IL 62523 Re: South Main Street City Waterworks Property Dear Mr. Bacon: Per your letter of March 21, 1989, I am enclosing two real estate appraisals of property Illinois Power Company would like to purchase from the City of Decatur. It is located adjacent to our existing Waterworks Electrical Substation and contains 0.629 acres. One appraisal was made by Verne E. Roby, SRPA, and the other was made by Kent Fitzjarrald, MAI. Both of these gentlemen are reputable, well-qualified appraisers. They used slightly different approaches in arriving at their estimate of value, but I see no reason to question either of them. Therefore, I believe we should split the difference. Illinois Power Company hereby offers $10,350.00 for the 0.629-acre tract. Please submit our offer to the City Council for the necessary approvals. We have also had the tract surveyed by Homer L. Chastain & Associates, and a copy of the survey is enclosed. The plat shows the 24-foot access roadway along the Southerly side of the tract over which the Company will need the right to use, jointly with the City, to have access to the substation. I conferred with Mr. Hogue, City Engineer, and it doesn't appear that the City needs to reserve any easements over the tract. Also enclosed is a copy of the proposed Deed which incorporates the surveyed description and covers the use of the roadway. On the East side of the tract there is a strip approximately 7 feet wide that lies between the existing chain link fence and the dedicated right of way of South Main Street. Since this strip of land is not committed to street right of way, it is possible that if we didn't acquire it now we could someday be obstructed from access to the street by a future owner. We propose to include this strip in the tract being conveyed and then Illinois Power Company will deliver to the City at the closing a fully executed Dedication of Right of Way, a copy of which is attached. This will be done at no cost to the City. Illinois Power Company will pay all the cost associated with the sale including appraisals, surveys, and title insurance. As I stated in my letter to you on March 15th, the Company wants to buy the property to strengthen our land rights under the existing substation now leased from the City, to provide space for new environmental facilities, and to insure the continued electric service to customers in the neighborhood. If you have questions or would lilce to meet to discuss the offer, please call me at 217/424-6887. Respectfully, � ��C H. Dean Simcox Supervisor - Real Estate