File #: CON 21-24    Version: 1 Name: Shea Connelly Development LLC Sale Agreement
Type: Contract Status: Passed
File created: 8/30/2021 In control: City Council Regular Meeting
On agenda: 9/21/2021 Final action: 9/21/2021
Title: The Mayor and City Council shall discuss and take action to approve a purchase and Sale Agreement and Escrow Instructions with Shea Connelly Development LLC, and Arizona limited liability company for the sale of approximately 4.22 acres of real property generally located on the southeast corner of Edison Rd. and Wilson Ave for $1,287,738.14 and authorizing the city manager to execute any necessary extensions and closing documents related thereto. Discussion and Action.
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 Shea Connelly Development LLC, and Arizona limited liability company for the sale of approximately 4.22 acres of real property generally located on the southeast corner of Edison Rd. and Wilson Ave for $1,287,738.14 and authorizing the city manager to execute any necessary extensions and closing documents related thereto. Discussion and Action.

 

AGENDA ITEM DESCRIPTION

The city currently owns approximately 4.22 acres of real property generally located on the southeast corner of Edison Rd. and Wilson Ave. The city will be selling the piece of land to Shea Connelly Development LLC, at $7.00 per square foot for a total of $1,287,738.14.

 

STAFF RECOMMENDATION

Staff recommends approval of the Purchase and Sale Agreement and Escrow Instructions with Shea Connelly Development LLC.