HomeMy WebLinkAbout~Master - Real Estate Agreement with Tall Timber Investments, LLC RESOLUTION NO. 03-384
RESOLUTION APPROVING REAL ESTATE AGREEMENT
BETWEEN THE CITY OF AMES AND
TALL TIMBER INVESTMENTS,L.L.C.
WHEREAS,as part of the platting of the 2nd Addition to Cooper's Subdivision in September
1991,the property owners Kent Cooper, et al, granted to the City a non-possessary easement to set
aside a portion of their land for a possible future City street—the extension of Grand Avenue; and,
WHEREAS,this concept required the owners to reserve this area for the future right-of-way
and to agree not to build on this designated land; and,
WHEREAS,if,or when,the City decides to build this street,the owners would then be given
just compensation for the right-of-way; and;
WHEREAS, subsequently the land in question has been sold; and,
WHEREAS,on January 28,2003,the City Council directed the City Attorney to convert the
non-possessary easement to a purchase agreement for right-of-way acquisition; and,
WHEREAS, the owners are interested in cooperating with the City to sell the land in order
to avoid paying property taxes for land on which they cannot build; and,
WHEREAS, a down payment in the amount of$10,000 needs to be authorized from the
undesignated balance in the Road Use Tax Fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the Real Estate Contract between the City of Ames and Tall Timber Investments, L.L.C., is
hereby approved and an expenditure of$10,000 is authorized from the undesignated balance in the
Road Use Tax Fund to pay the down payment.
ADOPTED THIS 23rd day of September, 2003.
. UA-Ii& �4
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Hoffman
Voting aye: Cross, Goodhue, Hoffman, Mahayni, Vegge, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 23' of September, 2003.