TITLE
The Mayor and City Council shall discuss and take action on approving a Purchase and Sale Agreement between Sharon Holmes and the City of Maricopa. Discussion and Action.
AGENDA ITEM DESCRIPTION
This Purchase and Sale Agreement is entered into effect between Sharon Holmes (Seller) and the City of Maricopa (Buyer). On the terms and conditions contained in this Agreement, Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller the real property generally located on the southwest corner of W. Burkett Ave. and N. Pershing St., Maricopa, Pinal County, Arizona, Assessor Parcel No. 510-26-048A together with all of Seller’s rights, title and interest in and to any improvements located thereon; (a) all appurtenances, hereditaments, easements, rights-of-way, reversions, remainders, development rights, well rights, water rights and air rights; (b) all oil, gas, and mineral rights not previously reserved; and (c) any other rights or privileges appurtenant to such real property. The purchase price (“Purchase Price”) to be paid by Buyer for the Property shall be Fifty Thousand Dollars and 00/100 ($50,000.00).
STAFF RECOMMENDATION
Staff recommends purchasing the land as described in the contract to aid in future economic development and growth of the city and the community at large.