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HomeMy WebLinkAbout~Master - Amendment to purchase agreement for 3803 Minnetonka Avenue RESOLUTION NO. 10-384 RESOLUTION APPROVING REVISION TO PURCHASE AGREEMENT FOR 3803 MINNETONKA 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,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,as a result of that situation,on June 22,2010,the Council approved a time extension amendment to the Habitat Agreement and to the Early Possession Agreement with the anticipated home buyer to August 31, 2010; and, WHEREAS,legal staff is currently working to bring about a release of this lien,however,it will take longer than anticipated to rectify this situation, therefore, staff is requesting a second extension of the Purchase and Early Possession Agreements with the anticipated home buyer to on or before December 31, 2010. 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 Second Amendment to the Agreement with Habitat for Humanity of Central Iowa extending the Purchase Agreement to on or before December 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 24th day of August, 2010. Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Goodman Seconded by: Wacha Voting aye: Davis, Goodman, Mahayni, Larson, Orazem, Wacha Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 24t1i day of August, 2010.