Title
A Resolution Authorizing the Negotiation and Sale of Certain City-Owned Property and Authorizing the Mayor to Execute the Purchase Agreement and Closing Documents
Summary
This resolution authorizes the Mayor to negotiate the sale of City-owned property identified as Parcel No. 54-05-21-2-000-003.000 at a purchase price of $810,262.26, with closing costs to be shared with the purchaser. The sale is contingent upon the property being developed for a medical office, clinic, hospital, or other healthcare-related use acceptable to the City, and authorizes the Mayor to execute the purchase agreement and all closing documents necessary to complete the transaction.
Body
WHEREAS, the City of Foley owns certain real property identified as Baldwin County Parcel No. 54-05-21-2-000-003.000; and
WHEREAS, the City Council has determined that it is in the best interest of the City to authorize the negotiation and sale of the property at a purchase price of Eight Hundred Ten Thousand Two Hundred Sixty-Two Dollars and Twenty-Six Cents ($810,262.26), with closing costs to be shared with the purchaser; and
WHEREAS, the City Council further finds that the sale of the property should be contingent upon the purchaser developing the property for a medical office, clinic, hospital, or other healthcare-related use acceptable to the City; and
WHEREAS, the City Council desires to authorize the Mayor to negotiate and execute a purchase agreement and all related closing documents, provided that the final negotiated agreement is consistent with the terms approved by the City Council in this Resolution.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Foley, Alabama, as follows:
Section 1: The Mayor is hereby authorized to negotiate the sale of the City-owned property identified as Baldwin County Parcel No. 54-05-21-2-000-003.000 for a purchase price of $810,262.26.
Section 2: The negotiated purchase agreement shall provide that closing costs shall be shared between the City and the purchaser.
Section 3: The purchase agreement and deed shall include a provision requiring that the purchaser develop the property for a medical office, clinic, hospital, or other healthcare-related use acceptable to the City.
Section 4: Provided that the final negotiated agreement is consistent with the purchase price, closing cost allocation, and medical-use restriction authorized herein, the Mayor is authorized to execute the purchase agreement, deed, closing documents, and any other documents necessary to complete the sale without further action of the City Council.
Section 5: This Resolution shall become effective immediately upon its adoption, as required by law.