Page 331 - 2018 Village Ordinance Book 122818

State of Wisconsin County of Racine Village of Sturtevant

RESOLUTION 2018-63
(7-27-18)

RESOLUTION BY THE ECONOMIC DEVELOPMENT AND REDEVELOPMENT
COMMITTEE AUTHORIZING THE SALE OF THE VILLAGE OWNED
PROPERTY AT 2953 WISCONSIN STREET

WHEREAS, the Village of Sturtevant authorized the purchase of property
at 2953 Wisconsin Street on 20th day of June, 2017; and

WHEREAS, the Village of Sturtevant purchased the properties to promote
economic development; and

WHEREAS, NDC, LLC has made an offer to the Village of Sturtevant for
the purchase of the property in the amount of $397,500 and

WHEREAS, the Village Board of Trustees has determined that it would be
in the best interests of the Village to sell this parcel and return it to the tax roll.

NOW THEREFORE, the Village Board of the Village of Sturtevant, Racine
County, Wisconsin does hereby resolve that:

1. The sale of 2953 Wisconsin Street, which is further described in
Exhibit A which is attached hereto and incorporated herein, for

$397,500 is authorized and approved, provided the following:
A. That all costs associated with the sales transaction (with the
exception of time of Village of Sturtevant staff or consultants)
will be paid by the buyer.

B. Closing will not occur until a Development Agreement is
authorized by the Village Community Development and the
Village Board of Trustees.

C. The closing shall take place no later than September 10, 2018
but the Village Administrator is authorized to extend the date for
closing at her discretion.

2. That the Village President and the Village Clerk are authorized to
execute deeds, contracts, agreements or other documents necessary
to carry out the intent of this resolution.

3. The funds received from the transaction shall be added to the General
Fund Balance (Fund 101).
Adopted by the Village Board of the Village of Sturtevant, Racine

County, Wisconsin, this 7th day of August, 2018.

Village of Sturtevant

By__________________________
Jayme Hoffman, President

Attest________________________
Mary Cole, Village Clerk