Ordinance 2005-1470 - Laserfiche WebLink

Home Browse Search

ORDINANCE NO. 1470 SERIES 2005 AN ORDINANCE AUTHORIZING THE SALE AND CONVEYANCE OF PROPERTY OWNED BY THE CITY AND DESCRIBED AS LOTS 1 THROUGH 3, BLOCK 3, LOUISVILLE OLD TOWN, BEING THE EXISTING LOUISVILLE LIBRARY PROPERTY WHEREAS, the City of Louisville is the owner of certain real property legally described as Lots 1 through 3, Block 3, Louisville Old Town, City of Louisville, County of Boulder, State of Colorado, and having a street address of 950 Spruce Street (hereinafter "the Library Property"); and WHEREAS, the Library Property is the current site of the Louisville Library, which Library will be relocated to the new library building currently under construction at the northwest corner of Spruce and Front Streets; and WHEREAS, the City Council desires to sell the Library Property and pursuant to Resolution No. 20, Series 2005, the City Council has approved a Contract to Buy and Sell Real Estate (the "Purchase Contract") for sale of the Library Property to Louis J. DellaCava and/or assigns for $1,700,000; and WHEREAS, the City Council desires to authorize the sale and conveyance of the Library Property in accordance with the terms and conditions of the Purchase Contract; and WHEREAS, the City Council has determined that, upon and subject to closing and the other terms of the Purchase Contract, the Library Property is not and will not be needed for any public purposes, and is not and will not be used or held for park purposes or any other governmental purpose; and WHEREAS, the City Council has determined it is in the best interest of the City and its citizens to sell and convey the Library Property upon the terms and conditions set forth herein. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILE, COLORADO: Section 1. The City Council hereby approves the sale and conveyance from the City to Louis J. DellaCava and/or assigns (the "Purchaser") of the Library Property legally described as Lots I through 3, Block 3, Louisville Old Town, City of Louisville, County of Boulder, State of Colorado and having a street address of950 Spruce Street, for a purchase price of$1,700,000. Section 2. The sale and conveyance of Library Property shall be upon the terms and conditions set forth in that certain Contract to Buy and Sell Real Estate between the City and the Purchaser, which Contract was approved by City Council Resolution No. 20, Series 2005, and which terms and conditions are incorporated herein by reference as though set forth in full. 1