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HomeMy WebLinkAbout10745RESOLUTION NO. 10745 A RESOLUTION APPROVING A CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN THE CITY OF PUEBLO AND T AND L ENTERPRISES, LLC, RELATING TO LOT 53, PUEBLO MEMORIAL AIRPORT INDUSTRIAL PARK SUBDIVISION AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The Contract To Buy And Sell Real City of Pueblo and T and L Enterprises, LLC Park Subdivision, a copy of which is attache d Attorney, is hereby approved. SECTION 2. Estate dated May 22, 2006 ( "Contract') between the relating to Lot 53, Pueblo Memorial Airport Industrial hereto, having been approved as to form by the City The President of the City Council is authorized to execute the Contract and Special Warranty Deed attached thereto in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. INTRODUCED June 12, 2006 BY Randy Thurston Councilperson APPROVED: President of City Council ATTESTED BY: CITY CLERK �I D Background Paper for Proposed RESOLUTION /mod • i'l07S/S AGENDA ITEM # (� DATE: June 12, 2006 DEPARTMENT: Law Department TITLE A RESOLUTION APPROVING A CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN THE CITY OF PUEBLO AND T AND L ENTERPRISES, LLC, RELATING TO LOT 53, PUEBLO MEMORIAL AIRPORT INDUSTRIAL PARK SUBDIVISION AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME ISSUE Should City Council approve the sale of Lot 53, Pueblo Memorial Airport Industrial Park Subdivision? RECOMMENDATION Approve the sale. BACKGROUND The Contract To Buy And Sell Real Estate authorizes the City to sell Lot 53, Pueblo Memorial Airport Industrial Park Subdivision ( "Lot 53 ") to T and L Enterprises, LLC ('Buyer") for a purchase price of $9,950.00 being the appraised value thereof. Lot 53 is a one -acre parcel of unimproved land adjacent to land owned by the Buyer. Buyer will annex his adjacent land and business as well as Lot 53 to the City of Pueblo. Buyer has engaged an engineering firm to start the annexation. All cost of annexation and title insurance will be paid by the Buyer. FINANCIAL IMPACT See Background.