TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Kristin Retherford, Director Urban Development Dept.
SUBJECT:
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Purchase and Sale Agreement with Suzanne M. Killegrew for surplus property located at 1890 Eola Drive NW.
Ward(s): 8
Councilor(s): Lewis
Neighborhood(s): WSNA
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ISSUE:
Shall the City Council authorize the City Manager to execute the attached Purchase and Sale Agreement with Suzanne M. Killegrew for surplus property located at 1890 Eola Drive NW?
RECOMMENDATION:
recommendation
Authorize the City Manager to execute the attached Purchase and Sale Agreement with Suzanne M. Killegrew for surplus property located at 1890 Eola Drive NW.
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SUMMARY AND BACKGROUND:
On February 27, 2017, City Council set minimum terms for the sale of surplus property located at 1890 Eola Drive NW, approximately 11,000 square feet in size. The property was offered for sale via a sealed bid auction. On May 16, 2017, Suzanne M. Killegrew was the winning bidder with a bid of $25,100.
FACTS AND FINDINGS:
The key terms of the Purchase and Sale Agreement (Attachment 1) resulting from the auction of the surplus sale property are below.
Sales Price: $25,100
Earnest Money: $2,510
Deed Restriction: No driveway access to Eola Drive NW
Easement: Purchaser to grant Seller easement for existing traffic signal
infrastructure on the property
Closing: No later than January 19, 2018
Clint Dameron
Real Property Services Manager
Attachments:
1. Proposed Agreement