TITLE
The Mayor and City Council shall discuss and possibly take action on a Purchase and Sale Agreement and Escrow Instructions between the City of Maricopa and Bowlin Plaza, LLC, a Nevada Limited Liability Company; Robert S. Elmore, Trustee of the Mark Richard Walton 1999 Grantor Irrevocable Trust; Robert S. Elmore, Trustee of the Leslie Ann Walton 1999 Grantor Irrevocable Trust; Robert S. Elmore, Trustee of the Patrick Leslie Walton 1999 Grantor Irrevocable Trust and Robert S. Elmore, Trustee of the Michael Allen Walton 1999 Grantor Irrevocable Trust allowing the City to purchase approximately 79,452 square feet of land within the City limits for the amount of $139,000.00 and authorizing City Manager Brenda Fischer to execute all necessary documents required to close said purchase. The funding for the services will be drawn from budget line item County Road Tax - Transportation, Street Projects Capital, Sports Complex (30044146-67750-33010). Discussion and Action.
AGENDA ITEM DESCRIPTION
Development of the City's recreational site requires the construction of roadway and drainage improvements. The roadway improvements include the new Martin Luther King Jr. Blvd, the extension of Greythorn Drive, and the widening of Bowlin Road. The drainage improvement is the channel that runs parallel to John Wayne Parkway (SR 347), which is necessary for the floodplain solution for the site and downstream (to the north) areas. To construct these improvements, additional right of way is needed from the commercial property located on the southeast corner of John Wayne Parkway and Bowlin Road. The City believes that these public improvements will in turn provide a positive result for Bowlin Plaza LLC as well as other nearby properties.
STAFF RECOMMENDATION
Staff recommends Council approval of this purchase.