Loading...
HomeMy WebLinkAbout~Master - Revision to purchase agreement for 1508 Carroll Avenue RESOLUTION NO. 07-438 RESOLUTION APPROVING REVISION TO PURCHASE AGREEMENT FOR PROPERTY AT 1508 CARROLL AVENUE FOR THE CITY OF AMES WHEREAS,at the City Council meeting on February 27,2007,the Council adopted a resolution proposing the sale of the City-owned property at 1508 Carroll Avenue to Habitat for Humanity of Central Iowa(HHCI); and, WHEREAS, the proposed sale was scheduled to occur on or before September 30, 2007, if all conditions of the purchase agreement for the rehabilitation and sale of the property were satisfied; and, WHEREAS,one major stipulation included in an amended agreement occurring in July 2007 is that the property must be sold to a qualified home buyer whose gross annual income is at or below 80% of the Story County area Median Income Limits as established by the Department of Housing and Urban Development(HUD); and, WHEREAS, HHCI had identified an approved family to purchase the property on Carroll Avenue, however, due to circumstances out of their control, the family has decided not to pursue the purchase of a home at this time; and, WHEREAS, in order to prepare for the selection of a new family for this property, HHCI is requesting a time extension for the rehabilitation and closing of the property as follows: rehabilitation to be completed on or before May 31, 2008; closing to a qualified home buyer to be completed on or before June 30, 2008; and, WHEREAS, the time extension of this agreement still requires HHCI to be responsible for the care and maintenance of the property until the final closing. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,that the revisions to the purchase agreement with Habitat for Humanity of Central Iowa for the property at 1508 Carroll Avenue are hereby approved. ADOPTED THIS 25th day of September, 2007. C:�?. LXIA& A�tow Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Mahayni Seconded by: Popken Voting aye: Doll, Goodman, Larson, Mahayni, Popken, Rice Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 25t1i day of September, 2007.