TO: Mayor and City Council
THROUGH: Kristin Retherford, Interim City Manager
FROM: Norm Wright, Community Development Director
SUBJECT:
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Purchase and Sale Agreement with Piche Group Investments LLC for disposition of surplus City property located adjacent to Kuebler Boulevard SE.
Ward(s): 3
Councilor(s): Phillips
Neighborhood(s): Morningside
Result Area(s): Good Governance; Welcoming and Livable Community.
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SUMMARY:
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The City owns two parcels of land adjacent to Kuebler Boulevard SE identified as tax lots 083W14BB02702 and 083W14BA0141 (Property). Piche Group Investments LLC (Melissa Stanley, Member) (Buyer) is in the process of developing a new subdivision adjacent to the Property and desires to purchase a portion of the Property to enhance the subdivision. A public auction was held and Buyer was the winning bidder.
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ISSUE:
Shall City Council authorize the City Manager to execute the attached Purchase and Sale Agreement with Buyer for surplus City property located adjacent to Kuebler Boulevard SE?
RECOMMENDATION:
recommendation
Authorize the City Manager to execute the attached Purchase and Sale Agreement with Buyer for surplus City property located adjacent to Kuebler Boulevard SE.
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FACTS AND FINDINGS:
Staff and Buyer have come to terms on a Purchase and Sale Agreement (Agreement) (Attachment 1). Key terms of the Agreement are below.
Sale Price: $12,300
Acreage: 0.09
Special Conditions: Buyer to complete all land use requirements at its sole cost to create legal lots for transfer.
Closing: within 30 days of creation of legal lots
BACKGROUND:
Revenue from the sale of the Property will go to the General Fund.
Clint Dameron
Real Property Services Manager
Attachments:
1. Agreement