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File #: CON 22-07    Version: 1 Name: Airport DRA LLC PSA
Type: Contract Status: Passed
File created: 2/22/2022 In control: City Council Regular Meeting
On agenda: 3/1/2022 Final action: 3/1/2022
Title: The Mayor and City Council shall discuss and take action on ratifying a Purchase and Sale Agreement and Escrow Instructions with DRA, LLC, an Arizona limited liability company for the purchase of approximately 5.1 acres of the real property, including buildings and inventory, generally in, Maricopa, Pinal County, Arizona, Assessor Parcel Nos. 502-47-013F and 502-470-025D at a purchase price of $2,400,000.00 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 on ratifying a Purchase and Sale Agreement and Escrow Instructions with DRA, LLC, an Arizona limited liability company for the purchase of approximately 5.1 acres of the real property, including buildings and inventory, generally in, Maricopa, Pinal County, Arizona, Assessor Parcel Nos. 502-47-013F and 502-470-025D at a purchase price of $2,400,000.00 and authorizing the City Manager to execute any necessary extensions and closing documents related thereto. Discussion and Action.

 

AGENDA ITEM DESCRIPTION

DRA, LLC, currently owns approximately 5.1 acres of the real property generally in, Maricopa, Pinal County, Arizona, Assessor Parcel Nos. 502-47-013F and 502-470-025D. The city is buying the property for a total purchase price of $2,400,000.00

 

STAFF RECOMMENDATION

Staff recommends approval of the Purchase and Sale Agreement and Escrow Instructions with DRA, LLC.