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File #: 20-208    Version: 1
Type: Action Item Status: Passed
File created: 5/28/2020 In control: City Council
On agenda: 6/22/2020 Final action: 6/22/2020
Title: Purchase and Sale Agreement for acquisition of property at 3821 Ibex Street NE adjacent to Fisher Road Park Ward(s): 5 Councilor(s): Ausec Neighborhood(s): Northgate Result Area(s): Natural Environment Stewardship; Welcoming and Livable Community.
Attachments: 1. Agreement
Related files:

TO:                      Mayor and City Council   

THROUGH:                      Steve Powers, City Manager   

FROM:                      Kristin Retherford, Urban Development Department Director 

                                          

SUBJECT:

title

 

Purchase and Sale Agreement for acquisition of property at 3821 Ibex Street NE adjacent to Fisher Road Park   

 

Ward(s): 5   

Councilor(s): Ausec    

Neighborhood(s):  Northgate    

Result Area(s): Natural Environment Stewardship; Welcoming and Livable Community.  

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ISSUE:

 

Shall the City Council authorize the City Manager to execute the attached Purchase and Sale Agreement with the Schmidt Living Trust for acquisition of real property located at 3821 Ibex Street NE?     

 

 

RECOMMENDATION:

recommendation

 

Authorize the City Manager to execute the attached Purchase and Sale Agreement with the Schmidt Living Trust for acquisition of real property located at 3821 Ibex Street NE.    

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SUMMARY:

 

Staff was approached by the Schmidt Living Trust (Seller) regarding the City’s interest in acquiring the property located at 3821 Ibex Street NE (Property) as a potential expansion of Fisher Road Park. The Property is heavily wooded, adjacent to Fisher Road Park’s eastern border and lies outside of, but adjacent to, the Salem City limits.   

 

 

FACTS AND FINDINGS:

 

Staff and Seller have come to terms on an agreement (Agreement) (Attachment 1) to acquire the Property. Key terms of the Agreement are below.

 

Size:                                                                                                         1.98 acres

Purchase Price:                                                               $350,000

Earnest Money:                                                               $15,000 + cost of demolition                                                               

Special Conditions:                                                               Seller to demolish existing single-family house and outbuildings with funding from buyer

Closing:                                                                                      Within 30 days of completion of demolition.

 

The acquisition is eligible for funding from Parks System Development Charges. Fisher Road neighborhood park is identified as NP-10 in the Comprehensive Parks System Master Plan Update. The proposed acquisition will provide additional land for Fisher Road Park. Fisher Road Park is included in the SDC Eligible Projects list; in addition, the Parks SDC list includes an additional five acres of unspecified neighborhood park acquisition in Ward 5.

 

BACKGROUND:

 

Funding for the acquisition will come from Parks System Development Charges. 

 

                     Clint Dameron    

                     Real Property Services Manager  

 

Attachments:

1. Agreement