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HomeMy WebLinkAbout~Master - Amendment to Purchase Agreement for 3803 Minnetonka Avenue RESOLUTION NO. 10-308 RESOLUTION APPROVING REVISION TO PURCHASE AGREEMENT FOR 3803 NIINNETONKA AVENUE FOR THE CITY OF AMES WHEREAS, as part of the City's 2009/10 Community Development Block Grant (CDBG) Neighborhood Sustainability Program,the City Council adopted a resolution approving the sale of the City-owned property at 3803 Minnetonka Avenue to Habitat for Humanity of Central Iowa(Habitat); and, WHEREAS, the proposed sale was scheduled to occur on or before June 30, 2010, if all conditions of the purchase agreement for the rehabilitation and sale of the property were satisfied;and, WHEREAS, Habitat has identified and approved a family to purchase the property at 3803 Minnetonka Avenue,however,during the updating of the abstract for the City prior to transferring the property to Habitat, it was discovered that a second mortgage lien had not been properly cleared and released; and, WHEREAS, staff is currently working to bring about a release of this lien, but it will take longer than the June 30, 2010, deadline to rectify the situation; and, WHEREAS,it is requested that the City Council extend the Purchase Agreement to on or before August 31, 2010, and approve an Early Possession Agreement with Habitat and the approved home buyer; and, WHEREAS, this action will allow the City time to clear the title issues to be able to sell the property to Habitat and allow the home buyer to occupy the property prior to closing and not be displaced due to the delay. NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that the amendment to the Agreement with Habitat for Humanity of Central Iowa extending the Purchase Agreement to on or before August 31,2010,is hereby approved;and,furthermore,the Early Possession Agreement among the City of Ames, Habitat for Humanity of Central Iowa, and the home buyer allowing the home buyer to occupy the property prior to closing is hereby approved. ADOPTED THIS 22°d day of June, 2010. CA�""R. Lola& AS40W VP/' ea4*u"4-4� Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Larson Seconded by: Wacha Voting aye: Davis, Goodman, Larson, Orazem, Wacha Voting nay: None Absent: Mahayni Resolution declared adopted and signed by the Mayor this 22"d day of June, 2010.