TITLE
The Mayor and City Council shall discuss and take action to approve the Purchase and Sale Agreement with Jon Miller and Isabelle Miller, related to the sale of approximately 0.92 acres of the real property generally located at 44510 W. Mercado Street, Maricopa, Pinal County, Arizona, Assessor Parcel Nos. 510-26-0490, 510-26-048A, and 510-26-048B for $328,616.64 and authorizing the City Manager to execute the Agreement and any future amendments to extend the Closing as he deems necessary and any closing documents related thereto. Discussion and Action.
AGENDA ITEM DESCRIPTION
Sale of approximately 0.92 acres of the real property generally located at 44510 W. Mercado Street, Maricopa, Pinal County, Arizona, Assessor Parcel Nos. 510-26-0490, 510-26-048A, and 510-26-048B for $328,616.64. This City-owned property was listed by a real estate company with the selling price established through a comparitive market analysis and subsequently offered through the invitation for bid process by the real estate company. Further, this excess property was originally purchased as part of a strategic effort by the City to eliminate blight and catalyze redevelopment in the Heritage District area. The City removed the blight from the property, and this is now considered excess property, ready to return to the tax rolls.
PRESENTER
This item will be presented by Josh Bowman, Chief Strategy Officer.
STAFF RECOMMENDATION
Staff recommends the approval of the Purchase and Sale Agreement and Escrow Instructions with Jon Miller and Isabelle Miller.