RESOLUTION NO. __________________, SERIES 2015
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A RESOLUTION DETERMINING THAT CERTAIN PARCELS OF REAL PROPERTY OWNED BY LOUISVILLE METRO ARE SURPLUS AND NO LONGER NEEDED FOR A GOVERNMENTAL PURPOSE AND AUTHORIZING THEIR CONVEYANCE TO KINDRED HEALTHCARE OPERATING, INC. IN EXCHANGE FOR THE CONVEYANCE BY KINDRED HEALTHCARE OPERATING, INC. TO LOUISVILLE METRO OF CERTAIN PARCELS OF REAL PROPERTY OWNED BY KINDRED HEALTHCARE OPERATING, INC. PURSUANT TO THE TERMS OF A CERTAIN REAL ESTATE EXCHANGE AGREEMENT.
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SPONSORED BY: Council Member Tandy, President
WHEREAS, Executive Order No. 3, Series 2007, as reenacted by Executive Order No 2, Series 2011, provides that a fee interest in real property may be purchased or sold with the approval of the Metro Council; and
WHEREAS, KINDRED HEALTHCARE OPERATING, INC. ("Kindred") is constructing, adjacent to its current headquarters building located at 680 South Fourth Street, a new building to house an expansion of its workforce in Louisville ("Expansion Project"); and
WHEREAS, Louisville Metro owns property near the location of the Expansion Project, upon which is located a public plaza known as Theatre Square and an unnamed alley); and
WHEREAS, in order to construct the Expansion Project, Kindred needs to acquire portions of the Louisville Metro Properties as illustrated on Exhibit A, attached hereto ("Surplus Properties"); and
WHEREAS, in consideration for the conveyance of the Surplus Properties, Kindred shall convey to Louisville Metro certain properties owned by it, as illustrated on Exhibit A ("Kindred Properties"), and at its sole expense, construct a new alley, as illustrated on Exhibit A and construct a new public plaza substantially as shown on Exhibit B, attached hereto; and
WHEREAS, Louisville Metro and Kindred have entered into a certain Real Estate Exchange Agreement dated May 18, 2015, as attached hereto as Exhibit C ("Agreement"), setting out the duties and obligations of the parties c...
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