TITLE
The Mayor and City Council shall discuss and take action to approve the Purchase and Sale Agreement and Escrow Instructions with Outside the Box Marketing, Inc., an Arizona corporation related to the sale of approximately 4.12 acres of the real property generally located on the Southeast corner of W Martin Luther King Jr. Blvd. and State Route 347, in Maricopa, Pinal County, Arizona, a portion of Assessor Parcel No. 51012014P for $717,869.00 and authorize 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
Approximately 4.12 acres of the real property generally located on the Southeast corner of W Martin Luther King Jr. Blvd. and State Route 347, in Maricopa, Pinal County, Arizona, a portion of Assessor Parcel No. 51012014P for $717,869.00. Section 14 of the Purchase Sale Agreement includes a Reversion Clause, in the event that the Buyer is unable to comply with the terms of the agreement.
PRESENTER
This item will be presented by Josh Bowman, Chief Strategy Officer
STAFF RECOMMENDATION
Staff recommends the ratification of the Purchase and Sale Agreement and Escrow Instructions with Outside the Box Marketing, Inc., an Arizona corporation.