TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Kristin Retherford, Urban Development Department Director
SUBJECT:
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Amendment to Purchase and Sale Agreement with Westwood Homes, LLC.
Ward(s): 3
Councilor(s): Nanke
Neighborhood(s): Morningside
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ISSUE:
Shall the City Council authorize the City Manager to execute the attached amendment to the Purchase and Sale Agreement with Westwood Homes, LLC?
RECOMMENDATION:
recommendation
Authorize the City Manager to execute the attached amendment to the Purchase and Sale Agreement with Westwood Homes, LLC.
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SUMMARY AND BACKGROUND:
On April 9, 2018, City Council authorized the City Manager to execute a Purchase and Sale Agreement (Agreement) (Attachment 1) with Westwood Homes, LLC (Seller) for the acquisition of a seven (7) acre parcel of land for use as a Neighborhood Park.
FACTS AND FINDINGS:
Due to the timing of required land use actions and development milestones, an amendment to the Agreement (Attachment 2) is necessary to allow for the creation of a legal lot and completion of the subdivision process. Funds in the amount of $50,000 will be held in escrow until such time as the subdivision process is complete.
Clint Dameron
Real Property Services Manager
Attachments:
1. Agreement
2. Proposed Amendment