File #: CON 23-38    Version: 1 Name: Purchase and Sales Agreement for Copper Sky Hotel and Residential Group LLC
Type: Contract Status: Approved
File created: 12/7/2023 In control: City Council Special Meeting
On agenda: 12/12/2023 Final action: 12/12/2023
Title: The Mayor and City Council shall discuss and take action to approve a Purchase and Sale Agreement and Escrow Instructions with Copper Sky Hotel and Residential Group, LLC for the sale of approximately 4.7 acres of real property generally located on the southeast corner of N. John Wayne Parkway and W. Bowlin Road, for an approximate purchase price of $1,467,928.77 which represents $7.17 per sq. ft, and authorizing the City Manager to execute the agreement, any future amendments to extend closing and any other necessary closing documents related to this agreement. Discussion and Action.
Sponsors: Joshua Bowman
Attachments: 1. Contract

TITLE

The Mayor and City Council shall discuss and take action to approve a Purchase and Sale Agreement and Escrow Instructions with Copper Sky Hotel and Residential Group, LLC for the sale of approximately 4.7 acres of real property generally located on the southeast corner of N. John Wayne Parkway and W. Bowlin Road, for an approximate purchase price of $1,467,928.77 which represents $7.17 per sq. ft, and authorizing the City Manager to execute the agreement, any future amendments to extend closing and any other necessary closing documents related to this agreement. Discussion and Action.

 

AGENDA ITEM DESCRIPTION

The City desires to sell approximately 4.7 acres of real property generally located on the southeast corner of N. John Wayne Parkway and W. Bowlin Road for a medical campus.

 

STAFF RECOMMENDATION

Staff recommends the approval of the Purchase and Sale Agreement and Escrow Instructions with Copper Sky Hotel and Residential Group, LLC and authorizing the City Manager to execute the agreement, any future amendments to extend closing and any other necessary closing documents related to this agreement.