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HomeMy WebLinkAbout13068RESOLUTION NO. 13068 A RESOLUTION APPROVING AMENDMENT NO. 1 TO A CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND THE PUEBLO URBAN RENEWAL AUTHORITY, A BODY CORPORATE AND POLITIC OF THE STATE OF COLORADO RELATING TO LOTS 24 TO 41, BLOCK 12, SUNNYSIDE, LOTS 24 TO 35, BLOCK 5, SUNNYSIDE AND THE SOUTHERLY 1.17 ACRES OF THE PUEBLO FIRE STATION NO. 4 SUBDIVISION 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. 1 dated September 9, 2014 between Pueblo, a municipal corporation and the Pueblo Urban Renewal Authority, a body corporate and politic of the State of Colorado, a copy of which is attached hereto (“Amendment”) having been approved as to form by the City Attorney, is hereby approved. The President of the City Council is authorized to execute and deliver the Amendment in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. SECTION 2. The officers and staff of the City are directed and authorized to perform any and all acts consistent with the intent of this Resolution and the attached Amendment to effectuate the transactions described therein. SECTION 3. This Resolution shall become effective immediately upon final passage. INTRODUCED: October 14, 2014 BY: Ed Brown COUNCILPERSON City Clerk’s Office Item # M-5 Background Paper for Proposed Resolution COUNCIL MEETING DATE: October 14, 2014 TO: President Sandra K. Daff and Members of City Council CC: Sam Azad, City Manager VIA: Gina Dutcher, City Clerk FROM: Daniel C. Kogovsek, City Attorney, Law Department SUBJECT: A RESOLUTION APPROVING AMENDMENT NO. 1 TO A CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND THE PUEBLO URBAN RENEWAL AUTHORITY, A BODY CORPORATE AND POLITIC OF THE STATE OF COLORADO RELATING TO LOTS 24 TO 41, BLOCK 12, SUNNYSIDE, LOTS 24 TO 35, BLOCK 5, SUNNYSIDE AND THE SOUTHERLY 1.17 ACRES OF THE PUEBLO FIRE STATION NO. 4 SUBDIVISION AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME SUMMARY: Attached is a proposed Resolution which extends the date for the City to subdivide parcels located within the Lake Minnequa project area of the Pueblo Urban Renewal Authority (“PURA”). The deadline for the subdivision is extended from June 1, 2013 until June 30, 2015. PREVIOUS COUNCIL ACTION: On June 13, 2011 by Resolution No. 12172, City Council approved a contract to buy and sell Lots 24 to 41, Block 12, Sunnyside, Lots 24 to 35, Block 5, Sunnyside and the Southerly 1.17 acres of the Pueblo Fire Station No. 4 Subdivision (“Sunnyside Property”). Under the contract, the City agreed to sell the Sunnyside Property to PURA for a purchase price of $240,000. The proceeds from the sale were used for the construction of the new Minnequa Fire Station. BACKGROUND: When the Sunnyside Property was sold in June, 2011, the City and PURA anticipated that the Sunnyside Property would be subdivided by the City on or before June 1, 2013. The target date has not been met and the parties have agreed to extend the date for the anticipated subdivision until June 30, 2015. FINANCIAL IMPLICATIONS: None. BOARD/COMMISSION RECOMMENDATION: Not applicable. STAKEHOLDER PROCESS: On September 9, 2014, by Resolution No. 2014-26, the Commissioners of PURA approved this Amendment No. 1 to the June 13, 2011 Agreement. ALTERNATIVES: Maintenance of the status quo under which the June 13, 2011 Buy and Sell Agreement would contain an out-of-date subdivision deadline. RECOMMENDATION: Approval of the Resolution. Attachment(s): Amendment No. 1 AMENDMENT NO. 1 CONTRACT TO BUY AND SELL REAL ESTATE This Agreement ("Amendment No. 1") is made as of September 9, 2014,by and between the CITY OF PUEBLO, a Municipal Corporation (the "Seller") and the PUEBLO URBAN RENEWAL AUTHORITY, a body corporate and politic of the State of Colorado (the"Buyer") (collectively, the"Parties"or individually, a "Party"). RECITAL The Parties entered into a Contract to Buy and Sell Real Estate dated as of June 13, 2011 (the "Contract"). The Parties agree to modify the Contract in accordance with this Amendment No. 1. AGREEMENT NOW THEREFORE, in consideration of the foregoing the Parties agree as follows: 1. Schedule A. Schedule A of the Contract is hereby amended as follows: (a) The date in lines 3 and 4 of Section 3 of Schedule A of the Contract is changed from September 30, 2012 to December 31, 2014. (b) The date in line 7 of Section 3 of Schedule A of the Contract is changed from June 1, 2013 to June 30, 2015. 2. Effect of Amendment. Except as modified by this Amendment No. 1, the provisions of the Contract shall remain unchanged and in full force and effect and fully binding on the Parties, their successors and assigns, and the Contract and this Amendment No. 1 shall be construed together as a single integrated document. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK. SIGNATURE PAGE FOLLOWS] IN WITNESS WHEREOF,the Parties have signed this Amendment No. 1 as of the date first above written. SELLER: BUYER: PUEBLO, a Municipal Corporation PUEBLO URBAN RENEWAL AUTHORITY ----) BY . 7.iit B i � Y• i A, 1� President of the City Coun,OW V lr air Attest: Attest: E J City Jerk S-, etary/Executive Dir,• •r Approved as to form: 1� ✓fd lC City Attorney I 2