Title
An Ordinance Declaring Certain Real Property Surplus and No Longer Needed for Municipal Purposes and Authorizing the Mayor to Sign a Purchase Agreement
Body
WHEREAS, a hotelier is interested in purchasing Lot 8 of the Wilson-Pecan Property consisting of 2.19+/-acres from the City of Foley, and
WHEREAS, the City of Foley wishes to enter into a purchase agreement with the entity, who is interested in building a hotel on Lot 8 of the Wilson-Pecan property, and
WHEREAS, the City of Foley will require a non-refundable deposit in the amount of $10,000 that will be used towards the purchase price of the property, and
WHEREAS, the City of Foley has determined this transaction is a good public purpose that will offer jobs and revenue to the City of Foley.
NOW THEREFORE BE IT ORDAINED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Declares Lot 8 of the Wilson-Pecan property consisting of 2.19+/-acres as surplus and no longer needed for municipal purposes.
SECTION 2: Authorizes the Mayor to sign the purchase agreement, which will be in effect for six months.
SECTION 3: The transaction is contingent upon legal review and a TEN THOUSAND DOLLAR ($10,000.00) non-refundable deposit, which will be used towards the purchase of the property.
SECTION 4: This Ordinance shall become effective immediately upon its adoption as required by law.