Title
A Resolution Authorizing the Mayor to Sign Purchase Agreement for Real Property
Summary
Description of Topic: (who, what, where, when, why and how much)
The City desires to purchase real property located at the SE Corner of Pine Street and HWY 98 in the amount of $220,000, splitting closing costs.
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**
_X___ Not Budgeted - account #_400-1010-5104 Land Purchase - SE Corner Pine & Hwy 98____ requires budget increase of $_222,000____________.**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 #____________________.
_____ Yes, requesting an increase of $___________ to an already approved project titled ________________________ that is being tracked under Account No. ___________________.
_____ No, requesting an increase of $__________ to an already approved project titled _______________________ that is being tracked under Account No. _________________.
Body
WHEREAS, the City of Foley Desires to purchase real property located at the southeast corner of Pine Street and US HWY 98 and further described as Tax Parcel ID. 05-54-09-29-4-401-047.000 PPIN# 8783, and
WHEREAS, the purchase price for this property is in the amount of $220,000, and
WHEREAS the closing costs will be split between the City of Foley and the seller of the property.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves the purchase of the real property mentioned above in the amount of $220.000 plus closing costs not exceed $2,000 for a total of $222,000.00 under account #400-1010-5104 Land Purchase - SE Corner Pine & Hwy 98 and amends the budget accordingly.
SECTION 2: Authorizes the Mayor to sign the purchase agreement.
SECTION 3: This Resolution shall become effective immediately upon its adoption as required by law.