Ordinance 832-82 - Laserfiche WebLink

v . a a • 1 ORDINANCE NO-Y2 2 AN ORDINANCE amending Section 3 of Ordinance No. 798-81 extending 3 the time in which to exercise the vacation of Wilmington Avenue. 4 5 WHEREAS, City Council adopted Ordinance No. 798-81 on the 12th day of 6 August, 1981, which provided for the vacation of Wilmington Avenue lying between 48th 7 Street and Evergreen Way; and 8 WHEREAS, because of the current state of the economy the proponent is unable 9 to pay the required compensation for the street vacation at this time; and 10 WHEREAS, City Council finds that it is in the best interest of the City that the 11 expiration date presently set forth in Ordinance No. 798-81 of 180 days from the 12 passage of said ordinance should be extended for a reasonable period of time. 13 NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: 14 Section 1: Section 3 of Ordinance No. 798-81 which now reads as follows: 15 16 That this ordinance shall not become effective until the owners of the property abutting upon the alley herein described shall compensate the 17 City of Everett in an amount equal to one-half the current appraised value of the area herein described. The abutting property owners shall 18 have ninety (90) days following passage of this ordinance to exercise this vacation. The abutting property owner shall automatically have the right 19 to an additional 90 day period in which to exercise this vacation, but in the event the right to vacate is not exercised in the initial 90 day period, 20 the abutting property owner shall be required to compensate the City of Everett in addition to the amount provided above, one percent (1%) of the 21 appraised value of the property for each month beyond the initial 90 day period that the right to vacate is not exercised. Unless otherwise 22 amended by City Council, this ordinance shall be null and void if the abutting property owners fail to exercise this vacation within one hundred 23 eighty (180) days following passage of this ordinance. 24 be and the same is hereby amended to read as follows: 25 26 That this ordinance shall not become effective until the owners of the property abutting the right-of-way herein described shall compensate the 27 City of Everett. The abutting property owners shall have until April 15, 1983, within which to exercise this vacation. The amount of 28 compensation paid to the City of Everett shall be the higher of the two following methods of computation: 29 1) One-half of the present appraised value of the 30 area herein described, to wit: $91,500; Provided, however, that in addition to the $91,500, the 31 amount of said compensation shall be increased 32