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HomeMy WebLinkAbout~Master - Real Estate Purchase Agreement for property known as Franklin Park RESOLUTION NO. 17-015 RESOLUTION AUTHORIZING MAYOR TO SIGN REAL ESTATE PURCHASE AND SALES CONTRACT TO PURCHASE PROPERTY AT 201 SOUTH FRANKLIN AVENUE(SOUTH FRANKLIN PARK) FOR THE CITY OF AMES WHEREAS, as part of the City's recently approved ComaRmity Development Block Grant (CDBG) State Avenue Neighborhood Revitalization Strategy Area (NRSA) Program, an Acquisition of Land for Public Facilities and Improvements program was created; and, WHEREAS, the goal of this program is to acquire existing land in the area to maintain or relocate a neighborhood park for recreational and open green space purposes; and, WHEREAS, this past year, several city park leases with Iowa State University (ISU) were due for renewal; and, WHEREAS, as part of the renewal negotiations, Franklin Park, located at 201 South Franklin Avenue, was only given a five-year lease with an option to purchase the land prior to the end of the lease period, or ISU would dispose of the land as surplus property; and, WHEREAS, an important element of the NRSA is access to recreational and open green spaces for families and households in the neighborhood; and, WHEREAS, City and ISU staff have been working together to determine a fair price for the purchase of the park, and both entities had independent appraisals conducted that determined the fair market value to be between$160,000 and$172,000; and, WHEREAS, the agreed upon purchase price is $166,000, and the funding will come from the CDBG 2016/17 State Avenue NRSA budget; and, WHEREAS, the anticipated closing date would occur after the Board of Regent's approval at its February meeting. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that authorization for the Mayor to sign the real estate purchase and sales contract with Iowa State University to purchase the property at 201 South Franklin Avenue (Franklin Park) in connection with the City's 2016/17 CDBG State Avenue NRSA Program is hereby approved. ADOPTED THIS 10`'' day of January, 2017. Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Corrieri Seconded by: Nelson Voting aye: Beatty-Hansen, Betcher, Corneri, Gartin,Nelson, Orazem Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 1 Ot" day of January, 2017.