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HomeMy WebLinkAbout10342RESOLUTION NO. 10342 A RESOLUTION APPROVING AMENDMENT NO. 3 TO THE AMENDED CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN THE CITY OF PUEBLO AND GEO GROUP, INC. FORMERLY WACKENHUT CORRECTIONS CORPORATION AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 Amendment No. 3 dated March 28, 2005 to the Amended Contract To Buy And Sell Real Estate between the City of Pueblo and The GEO Group, Inc. formerly Wackenhut Corrections Corporation, a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. SECTION 2 The President of the City Council is authorized to execute and deliver Amendment No. 3 in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. INTRODUCED March 28, 2005 BY Michael Occhiato Councilperson APPROVED: PREStDENT 9F CITY C IL ATTESTED BY: CITY CLERIC ,e,$o 103 { D �I 0 Background Paper for Proposed RESOLUTION AGENDA ITEM # 'a .3 DATE: March 28, 2005 DEPARTMENT: Law Department TITLE A RESOLUTION APPROVING AMENDMENT NO. 3 TO THE AMENDED CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN THE CITY OF PUEBLO AND GEO GROUP, INC. FORMERLY WACKENHUT CORRECTIONS CORPORATION AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME ISSUE Should City Council approve Amendment No. 3 to the Amended Contract To Buy And Sell Real Estate dated November 24, 2003 between the City and The GEO Group, Inc. formerly Wackenhut Corrections Corporation? RECOMMENDATION Approve amendment No. 3. BACKGROUND Depending upon final contract with Colorado Department of Corrections, the medium- security correctional or detention facility ( "Facility") to be constructed and operated by GEO Group may be a 500 -bed Facility. Paragraph 14(c) of the Amended Contract To Buy and Sell Real Estate between the City and GEO Group requires a minimum 700 -bed Facility. GEO Group has requested that the required minimum bed Facility be changed to 500 -beds. FINANCIAL IMPACT None. 0kyj iQ197uIQIr.[6199j THIS AMENDMENT NO.3 entered into as of March 28, 2005 between the City of Pueblo, a municipal corporation ( "Seller ") and The GEO Group, Inc. formerly Wackenhut Corrections Corporation (`Buyer "), WITNESSETH: WHEREAS, Seller and Wackenhut Corrections Corporation entered into an Amended Contract To Buy And Sell Real Estate dated November 24, 2003 relating to Lot 69, Pueblo Memorial Airport Industrial Park Subdivision, Pueblo County, Colorado, and Amendments No. 1 and No. 2 thereto dated June 28, 2004 and February 28, 2005 (herein collectively the "Contract "), and WHEREAS, The GEO Group, Inc. (herein the "Buyer ") is the successor in interest to Wackenhut Corrections Corporation, and WHEREAS, Seller and Buyer desire to modify certain terms and conditions of the Contract. NOW, THEREFORE, in consideration of the foregoing and mutual covenants herein contained Seller and Buyer agree as follows: Paragraph 14(c) of the Contract is hereby amended to read as follows: (c) Buyer shall construct, equip and operate on the Property a 500 -bed or larger (but not to exceed 1,000 beds) medium - security correctional or detention facility ( "Facility"). The Facility shall be substantially constructed and be operational within twenty-four (24) months after Closing Date. The Property and Facility shall be used, constructed and operated in compliance with all applicable laws, codes and ordinances of Seller, and this Contract. Unless otherwise approved by Resolution of Seller's City Council, only pre - parole and parole revocation inmates shall be confined in the Facility 2. The Contract as amended by this Amendment No. 3 shall remain in full force and effect, binding on Seller and Buyer and their respective successors and approved assigns, and enforceable according to its terms. Executed in Pueblo, Colorado, the day and year first above written. [SEAL] A'fTEST: - Cit Jerk I S-,F A 1r1 ATTEST: Name: Title: Eunice G&Lts eMY Commission DW74708 V aw Emms December 14. 2W By Name: k(A -6 Title: \J1C l�Clf:�t�tJ'C (l eog4y_ Cojoio t THE GEO GROUP, INC.