11-047CITY OF SHOREWOOD
RESOLUTION NO. 11 -047
AUTHORIZING THE PURCHASE OF REAL PROPERTY
AT 24620 SMITHTOWN ROAD
WHEREAS, the City Council and Planning Commission have endorsed redevelopment of
the Smithtown Crossing intersection at County Road 19 and Smithtown Road; and
WHEREAS, the property at 24620 Smithtown Road is for sale by a willing seller; and
WHEREAS, the City Council has authorized staff to acquire the property for future
economic development purposes; and
WHEREAS, the sellers have agreed to sell the property for $131,000 as presented by the
City's broker,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SHOREWOOD AS FOLLOWS:
Staff is authorized to purchase the property at 24620 Smithtown Road for $131,000
plus usual and customary closing costs.
2. Funds for the purchase of the property and demolition of the structure will be
provided from the Community Investment Fund.
The property will be titled in the name of the Shorewood Economic Development
Authority.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF SHOREWOOD this 22nd day of
August, 2011.
ATTEST
Christine Liz6e, Mayor