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HomeMy WebLinkAbout09804ORDINANCE NO. 9804 AN ORDINANCE APPROVING AN EXTENSION OF THE LISTING AGREEMENT BETWEEN THE CITY OF PUEBLO, A COLORADO MUNICIPAL CORPORATION AND SPM REALTY, INC., A COLORADO CORPORATION D/B/A ROCKY MOUNTAIN REALTY AND AUTHORIZING THE MAYOR TO EXECUTE SAID EXTENSION BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The Listing Contract Amend/Extend, dated September 24, 2020, between the City of Pueblo, a Colorado Municipal Corporation and SPM Realty, Inc., a Colorado Corporation, d/b/a Rocky Mountain Realty, a copy of which is attached hereto (”Extension Agreement”) having been approved as to form by the City Attorney is hereby approved. The Mayor is authorized to execute and deliver the Extension Agreement 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 authorized and directed to perform any and all acts consistent with this Ordinance and the attached Extension Agreement to effectuate the policies and procedures described herein. SECTION 3. This Ordinance shall become effective on the date of final action by the Mayor and City Council. Action by City Council: Introduced and initial adoption of Ordinance by City Council on October 13, 2020 . Final adoption of Ordinance by City Council on October 26, 2020 . President of City Council Action by the Mayor: ☒ Approved on October 30, 2020 . ☐ Disapproved on based on the following objections: Mayor Action by City Council After Disapproval by the Mayor: ☐ Council did not act to override the Mayor's veto. ☐ Ordinance re-adopted on a vote of , on ☐ Council action on __________________failed to override the Mayor’s veto. President of City Council ATTEST City Clerk City Clerk’s Office Item # R-13 Background Paper for Proposed Ordinance COUNCIL MEETING DATE: October 13, 2020 TO: President Dennis E. Flores and Members of City Council VIA: Brenda Armijo, City Clerk FROM: Mayor Nicholas A. Gradisar SUBJECT: AN ORDINANCE APPROVING AN EXTENSION OF THE LISTING AGREEMENT BETWEEN THE CITY OF PUEBLO, A COLORADO MUNICIPAL CORPORATION AND SPM REALTY, INC., A COLORADO CORPORATION D/B/A ROCKY MOUNTAIN REALTY AND AUTHORIZING THE MAYOR TO EXECUTE SAID EXTENSION SUMMARY: Attached is an Ordinance approving an extension to the listing agreement with Rocky Mountain Realty to list 101 W. Riverwalk, Units 1A and 1B for sale. PREVIOUS COUNCIL ACTION: On December 11, 2017, by Resolution No. 13843, City Council approved a listing agreement with Rocky Mountain Realty to list 101 W. Riverwalk, Units 1A and 1B for sale. BACKGROUND: The City has an existing contract with Rocky Mountain Realty for real estate brokerage services. Execution of this extension agreement will allow Rocky Mountain Realty to extend their listing of Units 1A and 1B of the PBR building referred to as 101 W. Riverwalk, until March 31, 2021. FINANCIAL IMPLICATIONS: If Units 1A or 1B are sold, Rocky Mountain Realty will receive a sales commission of 6%. BOARD/COMMISSION RECOMMENDATION: Not applicable to this Ordinance. STAKEHOLDER PROCESS: Not applicable to this Ordinance. ALTERNATIVES: If City Council does not approve this Ordinance, 101 W. Riverwalk, Units 1A and 1B, will not be listed for sale. RECOMMENDATION: Staff recommends approval of this Ordinance. Attachments: Proposed Ordinance and proposed listing extension agreement. Rocky Mountain Realty • 201 N. Main St. Pueblo, CO 81003 ROCKY MOUNTAIN Shawn Martinez REALTY Broker Associate/Owner shawnmartinez@rockymountainrealty,biz michele@rockymountainrealty.biz Ph: 719 240 2502 Fax: 877-220-4081 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (AE42-6-19)(Mandatory 1-20) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. LISTING CONTRACT AMEND/EXTEND Date: 9/24/2020 This Listing Contract Amend/Extend ("Amend/Extend")amends the following listing contract which is checked (Listing Contract): ❑ Exclusive Right-to-Sell Listing Contract(Seller Listing Contract)or; ❑ Exclusive Right-to-Lease Listing Contract(Landlord Listing Contract), dated 12/1/2017. relating to the Sale or Lease of the following legally described real estate in the County of Pueblo, Colorado: UNIT 1A and 1B RIVERWALK PLACE BUILDING CONDOMINIUMS +INT IN CE FORMERLY#05-364-49-012 known as 101 W Riverwalk, Pueblo, CO 81003(Property). ❑ Exclusive Right-to-Buy Listing Contract(Buyer Listing Contract)or; 0 Exclusive Tenant Listing Contract (Tenant Listing Contract), dated , between Brokerage Firm named below and the undersigned. This Amend/Extend will control in the event of any conflict with the Listing Contract to which it amends. The parties agree that the Listing Contract is amended as follows: 1. The date ending the Listing Period is changed to 3-31-21 2. The price or rental rate is changed to$ n/a. 3. Additional amendments: Each unit will be marketed individually. - The list price is determined by dividing the list price by the square footage. The list price for both units is$1,150,000. The square footage for unit 1-A is 4,195 and unit 1-B is 3332. Unit 1-A will be listed for$640,926. No.AE42-6-19. LISTING CONTRACT AMEND/EXTEND Page 1 of 2 Initials CTMeContracts.com-©2020 CTM Software Corp. Unit 1-B will be listed for$509,074. All other terms and conditions of the Listing Contract remain the same. ®Seller ❑ Landlord 0 Buyer El Tenant -7 + C6.��i Date:ee,-.7/•0ff Signature: City of Pueblo By: Nick Gradisar, Mayor Brokerage Firm: Rocky Mountain Realty Date: 9/24/2020 Broker's Signature: Shawn Martinez No. AE42-6-19. LISTING CONTRACT AMEND/EXTEND No.AE42-6-19. LISTING CONTRACT AMEND/EXTEND Page 2 of 2 Initials CTMeContracts.com-©2020 CTM Software Corp.