Title
A Resolution To Rescind Resolution 19-1318 A Resolution To Terminate the Purchase and Sale Agreement Between The City of Foley and Retail Markets Group, LLC
Summary
Description of Topic: (who, what, where, when, why and how much)
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 requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital - Departmental **Capital Purchase Worksheet form must be attached**
____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Request toTransfer Departmental Budget Dollars form must be attached**
____ Not Budgeted - account #____________ requires budget increase of $_____________.**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 #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________.
_____ No, requesting an increase of $___________ to an already approved project titled ________________________ that is being tracked under Account No. ___________________.
Body
WHEREAS, on October 7, 2019, Council adopted Resolution 19-1318, which terminated the purchase and sale agreement between The City of Foley and Retail Markets Group, LLC due to Retail Markets Group, LLC failing to schedule a closing date as agreed, and
WHEREAS, Retail Markets Group, LLC has a closing date scheduled for October 25, 2019 and The City of Foley desires to rescind Resolution 19-1318.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Rescinds Resolution 19-1318 A Resolution To Terminate the Purchase and Sale Agreement Between The City of Foley and Retail Markets Group, LLC.
SECTION 2: This Resolution shall become effective immediately upon its adoption as required by law.