File #: CON 21-14    Version: 1 Name: S3 BioTech, LLC PSA
Type: Contract Status: Passed
File created: 6/14/2021 In control: City Council Regular Meeting
On agenda: 6/15/2021 Final action: 6/15/2021
Title: The Mayor and City Council shall discuss and possibly take action on approving a Purchase and Sale Agreement and Escrow Instructions with S3 BioTech, LLC, an Arizona limited liability company, for the sale of approximately 4 acres generally located on the southeast corner of W. Bowlin Road and N. John Wayne Parkway, for $1,375,000.00 and authorizing the City Manager to execute any necessary documents related thereto.  Discussion and Action.
Attachments: 1. Contract, 2. EXHIBIT C - Promissory Note, 3. EXHIBIT D - Deed of Trust, 4. Map

TITLE

The Mayor and City Council shall discuss and possibly take action on approving a Purchase and Sale Agreement and Escrow Instructions with S3 BioTech, LLC, an Arizona limited liability company, for the sale of approximately 4 acres generally located on the southeast corner of W. Bowlin Road and N. John Wayne Parkway, for $1,375,000.00 and authorizing the City Manager to execute any necessary documents related thereto.  Discussion and Action.

 

AGENDA ITEM DESCRIPTION

 

The City desires to sell approximately 4 acres of land located on the southeast corner of W. Bowlin Road and N. John Wayne Parkway to S3 BioTech, LLC for a Medical Campus with a specialty ER hospital, a surgery center and medical offices.

 

STAFF RECOMMENDATION

 

 Staff recommends approval of the Purchase and Sale Agreement and Escrow Instructions with S3 Bio Tech, LLC.