Title
Amend Resolution 14-0156 Regarding HT Barnes
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
Resolution 14-0156 had a typo on the purchase price amount, which was listed as $150,000 and the actual purchase price should have been $350,000. The City has also agreed to reimburse Vamonos fifty (50%) percent of the costs incurred by them in constructing a dividing wall, drafting and recording the condominium documents and processing either the annexation or subdivision approval in an amount no more than $25,000.
SOURCE OF FUNDING:
Please provide the amount requested: $375,000
Is this a budgeted item? Yes /No
Please provide the budgeted amount: $150,000 Account No. 12-665-7339
If budgeted, is this a capital purchase, capital project, or special fund? _________________________
Was this item included in the Fiscal Year Capital Projects Plan? Yes/No
If yes, please provide the amount included in Capital Projects Plan: $___________
Body
WHEREAS, on April 21, 2014 the Foley City Council adopted Resolution 14-0156-Res, which lists an incorrect amount of the purchase price of $150,000, and
WHEREAS, the purchase price should have been listed as $350,000, and
WHEREAS, the City has agreed to reimburse Vamonos fifty (50%) percent of the costs incurred by them in constructing a dividing wall, drafting and recording the condominium documentation and processing either the annexation or subdivision approval in an amount no more than $25,000.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Amends Resolution 14-0156-Res Section 1 to reflect the correct amount of $350,000.
SECTION 2: Amends Section 2 to reflect the correct appropriation of $350,000 under Account No. 12-665-7339.
SECTION 3: Appropriates up to fifty (50%) percent, not to exceed $25,000, of the costs incurred by Vamonos for the dividing wall and closing costs as stated above under Account No. 12-665-7...
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