10.E.
City Council Meeting - FINAL
- Meeting Date:
- 11/18/2014
- From:
- David McIntire, Asst. to City Manager - Real Estate
Information
TITLE:
Consideration and Adoption of Ordinance 2014-33: An ordinance of the Flagstaff City Council ratifying the sale of approximately 33.6 acres of real property consisting of three parcels located at the southeast and southwest corners of the intersection of Fourth Street and Route 66, and the northwest corner of Fourth Street and Huntington Drive adjacent to the Fourth Street Overpass (ordinance ratifying the sale of the TRAX properties)
RECOMMENDED ACTION:
1) Read Ordinance No. 2014-33 by title only for the first and final time (requires unanimous consent of Councilmembers present according to Flagstaff City Charter Art. VII Section 6)
2) City Clerk reads Ordinance No. 2014-33 by title only for the first and final time (if approved above)
3) Adopt Ordinance No. 2014-33
2) City Clerk reads Ordinance No. 2014-33 by title only for the first and final time (if approved above)
3) Adopt Ordinance No. 2014-33
Policy Decision or Reason for Action:
Per the City Charter the sale of real property is to be accomplished by ordinance. City Council considered and approved the purchase contracts, subsequent amendments and other relevant documents authorizing the sale, but there was no ordinance passed specifically addressing the sale of the property. This action will approve the sale by ordinance as required and bring it into compliance with the charter.
Financial Impact:
The sale has been completed and all funds have been received. There is no additional financial impact..
Connection to Council Goal and/or Regional Plan:
COUNCIL GOALS:
5. Retain, expand, and diversify economic base
11. Effective governance
5. Retain, expand, and diversify economic base
11. Effective governance
Has There Been Previous Council Decision on This:
Yes- There were a number of Council actions involved in the acquisition and subsequent sale of the properties. The most recent actions were the approval of the 3rd and 4th Amendments to the Real Estate Purchase and Sale Agreement which were considered and approved on August 25th of 2014 and which led to the close of escrow and finalization of the transaction.
Options and Alternatives:
Passing the Ordinance will bring the City into compliance with charter requirement.
Not passing the ordinance would be in conflict with the City Charter and may have implications regarding the consummated sale.
Not passing the ordinance would be in conflict with the City Charter and may have implications regarding the consummated sale.
Background/History:
The parcels involved in the sale were acquired as a part of the 4th Street Overpass. The parcels were surplus property and bundled, marketed and sold. The sale formally closed escrow on October 3, 2014.
Key Considerations:
- The ordinance brings the transaction into compliance with the Charter.
- There were a number of Council actions that provided direction and approval regarding the transaction.
- The sale closed on October 3, 2014 and has been recorded. All funds have been received.
Community Benefits and Considerations:
Approval of Ordinance 2014-33 brings the sale f the property into compliance with the City Charter.
Community Involvement:
Inform