RESOLUTION NO. ____________, SERIES 2020
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A RESOLUTION DETERMINING TWO PARCELS OF REAL PROPERTY LOCATED AT 7709 PRESTON HIGHWAY, LOUISVILLE, KENTUCKY, AND DESCRIBED IN EXHIBIT A ATTACHED HERETO ("PREMISES"), AND THAT ARE OWNED BY JEFFERSON COUNTY, KENTUCKY, CAPITAL PROJECTS CORPORATION, AN ENTITY WHOLLY OWNED BY LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT ("METRO GOVERNMENT"), AS SURPLUS AND NO LONGER NEEDED FOR A GOVERNMENTAL PURPOSE AND AUTHORIZING ITS TRANSFER.
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SPONSORED BY: COUNCIL MEMBER FLOOD
WHEREAS, the Premises are owned by Jefferson County, Kentucky Capital Projects Corporation ("Owner");
WHEREAS, the Owner is wholly owned by Metro Government;
WHEREAS, since the Owner is wholly owned by Metro Government it was decided that the Premises should be declared surplus and the agreement for its sale to The Nance Realty Company, a Kentucky corporation, should be approved by the Louisville/Jefferson County Metro Council ("Metro Council");
WHEREAS, the Premises are the former location of the Okolona Library which has been moved to a different location;
WHEREAS, according to KRS Chapter 67C.101, Metro Government may sell any real property belonging to Metro Government;
WHEREAS, Section 1(A) of Executive Order No. 2, Series 2011 of the Mayor, which adopts Section 2(C) of Executive Order No. 3, Series 2007, provides that Metro Government may sell and convey surplus real estate upon declaration by Metro Council that such property is no longer needed for the governmental purposes of Metro Government;
WHEREAS, Metro Government recognizes that these Premises have value in that they are located along the Preston Highway commercial corridor and could be restored to a use that would generate tax revenue for the community;
WHEREAS, The Nance Realty Company wishes to purchase the Premises to develop it as an overall retail shopping center; and
WHEREAS, the Director of Economic Development has declared and certified to the Metro Council that the Pr...
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