Ordinance #12,110

WHEREAS, the City of Monroe would like to acquire property at 710 S. 4^th Street, Monroe, LA, and referenced as Parcel #45162 with the Ouachita Parish Tax Assessor, currently owned by HARRELLCO PROPERTIES LLC; and

WHEREAS, the City of Monroe will purchase the above-referenced property for the HOME in Monroe Program & use the property transfer program as the development vehicle for a new construction single-family home that will be purchased by a first-time homebuyer.

WHEREAS, Appraisal Consultants, LLC prepared an appraisal dated December 15, 2021, with the appraised value at $2,500.00.  A copy of a portion of the appraisal is attached hereto; and

WHEREAS, the CITY OF MONROE and HARRELLCO PROPERTIES LLC have agreed upon a purchase price of Two Thousand Five Hundred and no/100 Dollars ($2,500.00).

WHEREAS, the funds to purchase this property will come from Community Development Funds (HUD – CDBG or HOME Program funds).

NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Monroe, Louisiana in legal session convened, that Friday Ellis, Mayor, be and he is hereby authorized and empowered for and on behalf of the City of Monroe to acquire the following described property for the sum of $2,500.00 to-wit:

Lot 12, Sq 69 Layton’s 3^rd Addition, Monroe, LA

Tax Assessor’s ID Parcel #45162

IT IS FURTHER ORDAINED, that this Ordinance shall become effective immediately upon passage.

ORDINANCE INTRODUCED on the  22nd day of  March, 2022.

NOTICE PUBLISHED on the  25th day of  March, 2022.

This Ordinance having been submitted in writing, introduced and published, was then submitted to a vote as a whole, the vote thereon being as follows:

AYES: Harvey, Ezernack, Woods, Marshall & Dawson

NAYS: None.

ABSENT: None.

And the Ordinance was declared ADOPTED on the  12th day of  March, 2022.