HomeMy WebLinkAbout1979-07-24 Resolutions
RESOLUTION NO. 79-334
RESOLUTION AUTHORIZING RE ASSIGNhM OF REAL
ESTATE CONTRACT FOR PENTACRESr GARDEN APARImwT3
IYHEREAS, Resolution No. 77-450 authorized the sale of certain
urban renewal property to Pentacrest Garden Apartments under date of
November 22, 1977, and
WHEREAS, a contract was entered into between the City of Iowa City,
Iowa, and Pentacrest Garden Apartments for the sale of certain land under
date of November 23, 1977, and
by
WHEREAS, on November 30, 1977, the City of Iowa City, Iowa, conveyed
IYarranty Deed to Pentacrest Garden Apartments, a partnership, the real
estate covered by said contract herein above and described as follows, to -wit:
All that certain parcel or parcels of land located
in the City of Iowa City, County of Johnson, State
of Iowa, more particularly
to -wit: described as follows,
Lot 1, 2, 3 and 4 in Block 93, in Iowa City, Johnson
County, Iowa, according to the recorded plat thereof;
and all of Lot 5, all of Lot 6, Lot 7 except the north
50 feet of the east 25 feet of said lot, Lot 8 except
for the east 25 feet of said Lot, in Block 101, and
the Capitol Street right -of -sway from the south right-
of-way line of Burlington Street to the north right-
of-way line of Court Street, Iowa City, Johnson County,
Iowa, according to the recorded plat thereof, subject
to an easement over the following described area:
Commencing at the northeast corner of Block 93 of the
Original Town of Iowa City, Iowa; thence easterly
along the south right-of-way line extended of Burlington
Street, 15.36 feet to the point of beginning; thence
southerly 320.00 feet from said right-of-way line along
a line parallel to the east line of Block 93; thence
westerly 3.50 feet along a line parallel to the north
right-of-way line of Court Street; thence southerly
60.00 feet along a line parallel to the east line of
I Block 93 to the north right-of-way line extended of
Court Street; thence easterly 68.00 feet along said
right-of-way line extended; thence northerly 5.00
feet along a line parallel to the east line of Block
93; thence westerly 22.00 feet along a line parallel
to the north right-of-way line of Court Street ex-
tended; thence northerly 375.00 feet along a line
parallel to the east line of Block 93 to the south
right-of-way line extended of Burlington Street;
thence westerly along the south right-of-way line of
Burlington Street, 42.50 feet to the point of beginning.
MICROFILMED BY
JORM MICROLAB
CEDAR RAPIDS -DES MINES
110,7
i
i
s
Resolution No. 79-334
Page 2
M ERREAS, under date of December 2, 1977, Pentacrest Garden
Apartments, by James A. Clark and Loretta C. Clark, the partners
therein, conveyed said property to Agent Corporation, and
I
1YfHMM, on November 22, 1977, the City was notified of the
request to transfer by Pentacrest Garden Apartments to Agent Corporation,
pursuant to Section 503, Part II of the contract for sale of the land
for private redevelopment, and
WIIEREAS, on December 2, 1977, John Hayek, City Attorney, and Neal
Berlin, City Manager, approved the transfer pursuant to authority granted
to then by Council action on November 22, 1977, and
WHEREAS, Agent Corporation now intends to transfer the said real
estate hereinabove described back to Pentacrest Garden Apartments, a
partnership consisting solely of James A. Clark and Loretta C. Clark, and
WHEREAS, pursuant to Section 503, Part II referred to hereinabove,
request is again made to the re -assignment of the real estate and re-
development contract by Agent Corporation back to Pentacrest Garden Apart-
ments so the real estate is owned by Pentacrest Garden Apartments and the
contract is between Pentacrest Garden Apartments and the City of Iowa City,
Iowa, the same as it was in the original instance on November 23, 1977.
NOW, nIER FORE, BE IT RESOLVED BY THE CITY COUNCIL OF TIE CITY OF
IO{VA CITY:
1. The City of Iowa City, Iowa, pursuant to Section 503, Part II of
the contract for sale of land for private redevelopment originally entered
into between Pentacrest Garden Apartments and the City of Iowa City, Iowa,
now gives formal and unequivocal consent and approval to the transfer of
real estate and re -assignment of the original contract between Pentacrest
Garden Apartments and the City of Iowa City, Iowa, dated November 23, 1977,
to the end that Pentacrest Garden Apartments, a partnership consisting solely
of James A. Clark and Loretta C. Clark, now has complete ownership of the
real estate covered thereunder, and full privity of the contract with the
City.
2. The City of Iowa City, Iowa, further consents to the transfer of
any interest of Agent Corporation in the subject real estate to Pentacrest
Garden Apartments.
MICROFILMED BY
JORM MICROLAB
CEDAR RAPIDS -DES MOINES
r1 "
Resolution No. 79-334
Page 3.
3. The City of Iowa City, Iowa, will promptly seek to enter
into an agreement with Johnson County, Imva for the payment under
protest of the real estate taxes in this matter.
It was moved by Neuhauser and seconded by Balmer
that the Resolution as read be adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
x Balmer
x DePiosse
x Erdahl
x Neuhauser
x Perret
x Roberts
x Vevera
Passed and approved this 24th day of July , 1979.
Attest: Me,. /'Ls J
City Clerk
Mayor
MICROFILMED BY
JORM MICROLAB
CEDAR RAPIDS -DES MOINES