ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City is the owner of the vacant parcel of property located at 4109 South Indiana Avenue, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the 47th/King Redevelopment Project Area ("Area") established pursuant to ordinances adopted by the City Council of the City (the "City Council") on March 27, 2002, published in the Journal of Proceedings of the City Council for such date at pages 81232 through 81472; and
WHEREAS, Troy Zimmerman and Heather Zimmerman ("Grantees"), 4107 South Indiana Avenue, Chicago, Illinois 60653, have offered to purchase the Property from the City for the sum of Thirteen Thousand and No/100 Dollars ($13,000.00), such amount being the appraised fair market value of the Property, to improve with landscaped open space thereon; and
WHEREAS, pursuant to Resolution No. 12-065-21 adopted on October 18, 2012, by the Plan Commission of the City (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantees; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Property with the Grantees and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on October 23, 2012, and October 30, 2012; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The City Council hereby approves the sale of the Property to the Grantees for the amount of Thirteen Thousand and No/100 Dollars ($13,000.00).
SECTION 2. The Mayor or his proxy is authorized to execute...
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