File #: CON 21-18    Version: 1 Name: PSA Copper Sky Hotel and Residential Group LLC
Type: Contract Status: Passed
File created: 7/26/2021 In control: City Council Regular Meeting
On agenda: 8/3/2021 Final action: 8/3/2021
Title: The Mayor and City Council shall discuss and possibly take action on approving a Purchase and Sale Agreement and Escrow Instructions with Copper Sky Hotel and Residential Group, LLC, an Arizona limited liability company, for the sale of approximately 4.7 acres generally located on the southeast corner of W. Bowlin Road and N. John Wayne Parkway, for $1,467,928.77 and authorizing the City Manager to execute any necessary extensions and closing documents related thereto. Discussion and Action.
Attachments: 1. Contract, 2. Map, 3. EXHIBIT C - Promissory Note. Copper Sky Hotel and Residential Group, LLC, 4. EXHIBIT D - Deed of Trust

TITLE

The Mayor and City Council shall discuss and possibly take action on approving a Purchase and Sale Agreement and Escrow Instructions with Copper Sky Hotel and Residential Group, LLC, an Arizona limited liability company, for the sale of approximately 4.7 acres generally located on the southeast corner of W. Bowlin Road and N. John Wayne Parkway, for $1,467,928.77 and authorizing the City Manager to execute any necessary extensions and closing documents related thereto. Discussion and Action.

 

 

AGENDA ITEM DESCRIPTION

The City desires to sell approximately 4.7 acres of land located on the southeast corner of W. Bowlin Road and N. John Wayne Parkway to Copper Sky Hotel and Residential Group, LLC .

 

 

STAFF RECOMMENDATION

 Staff recommends approval of the Purchase and Sale Agreement and Escrow Instructions with Copper Sky Hotel and Residential Group, LLC.