City Council Agenda and Packet 1997 01 07

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TO: MAYOR AND CITY COUNCIL FROM: WILLIAM A. SIMMONS CITY ADMINISTRATOR DATE: January 7, 1997 SUBJECT: Ordinance No. 1247, Series 1997 An Ordinance Approving a Lease Agreement between the City of Louisville and Duane and Russell Daughenbaugh ORIGINATING DEPARTMENT: Administration SUMMARY: COUNCIL COMMUNICATION The closing on the Daughenbaugh Property took place on Friday, January 3, 1997. The city purchase about 21.55 acres for open space for the amount of $575,000 dollars. The property is located on the north side of Cherry Street, east of Heritage Park. The purchase agreement allowed the seller to lease back the property from the date of closing until April 1, 1998. The lease allows the seller to use the property only for those uses made by the seller as of the date of the purchase agreement and disclosed in writing by letter dated December 5, 1996. The lease is at a monthly rental rate of $100 dollars and allows the seller to remove personal property and any fixtures, structures or improvements on the property except the wire fence on the boundaries of the property. The lease is between the City and Duane Daughenbaugh and his son, Russell Daughenbaugh. Russell Daughenbaugh will be occupying the single family residence on the property and by identifying both Daughenbaughs as the "lessee" will facilitate their obtaining the required liability insurance. State statues require that any leasing of municipal property for a period of more than one year be done by ordinance. RECOMMENDATION: Adopt Ordinance No. 1247, Series 1997 at First Reading and set out for publication and set public hearing for January 21, 1997. SUBJECT AGENDA ITEM Ordinance No. 1247, Series 1997 First Reading 6D