Title
A RESOLUTION AUTHORIZING THE PURCHASE OF CERTAIN REAL PROPERTY LOCATED ON EAST ROSE AVENUE
Summary
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**Request to Transfer Departmental Budget Dollars form must be attached**
____ Not Budgeted - account #_. requires budget increase of $____ and an increase to account**Request to Increase Departmental Budget Dollars form must be attached**
Capital Project - **If requesting to start a project, a Capital Project Worksheet form must be attached**
In current year Capital Projects Plan:
_____ Yes, described as __________________________, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
__x___ No, requesting $80,285.00 as total project estimate, including contingencies, under account #400-1010-5107 LP-7 Land Purchases.
_____ No, requesting an increase of $___________ to an already approved project titled ________________________ that is being tracked under Account No. ___________________
Body
WHEREAS, the City Council of the City of Foley, Alabama, has determined that it is in the best interest of the City to acquire certain real property located on East Rose Avenue in Foley, Alabama; and
WHEREAS, the City of Foley has entered into a Purchase Agreement with McConnell Rentals, LLC, for the purchase of said property, subject to approval by the Foley City Council; and
WHEREAS, the property to be acquired is identified as follows:
PIN: 64275
Parcel No.: 05-54-08-28-2-000-022.000
Legal Description:
50' X 140' IRR PT OF LOT 1 BLK 1 CITY OF FOLEY MB1 PG25, LYING N & W OF OLD L&N RAILROAD SPUR TRACK & N OF EXISTING CHAIN LINK FENCE IN FOLEY CORP LIMITS SEC 28-T7S-R4E (QCD) IN#1513786; and
WHEREAS, the Purchase Agreement provides for a purchase price of Seventy-Eight Thousand Nine Hundred Sixty Dollars ($78,960.00), with the City and Seller sharing typical closing costs, including title insurance, closing agent fees, recording fees, and deed preparation fees; and
WHEREAS, the estimated total amount due at closing is Eighty Thousand Two Hundred Eighty-Five Dollars ($80,285.00).
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FOLEY, ALABAMA, as follows:
Section 1: The City Council hereby approves and ratifies the Purchase Agreement entered into between the City of Foley and McConnell Rentals, LLC, for the purchase of the real property described herein for a purchase price of Seventy-Eight Thousand Nine Hundred Sixty Dollars ($78,960.00), plus the City’s share of closing costs, not to exceed a total purchase amount of Eighty Thousand Two Hundred Eighty-Five Dollars ($80,285.00).
Section 2: The Mayor is hereby authorized to execute any and all additional documents, instruments, affidavits, closing statements, and other documents necessary or appropriate to complete the acquisition of the property and to carry out the intent of this Resolution.
Section 3: Approves an appropriation of $80,500 to account 400-1010-5107 LP-7 Land Purchases.
Section 4: This Resolution shall become effective immediately upon its adoption.