HomeMy WebLinkAbout~Master - Purchase Agreement with Stone Court Apartment Corporation Housing Association RESOLUTION NO. 18-582
RESOLUTION APPROVING PURCHASE AGREEMENT FOR
PARCEL 3 WITH STONE COURT APARTMENTS
COOPERATIVE HOUSING ASSOCIATION,INC.
FOR THE CITY OF AMES
WHEREAS,the City of Ames is acquiring Parcel 3 for the South Grand Avenue Extension
Project and the South 5tn Street Project; and,
WHEREAS, an appraisal was performed by Commercial Appraisers of Iowa, Inc., which
valued the property on Parcel 3 at $43,150; and,
WHEREAS, the project was originally broken into three phases to allow for potential
flexibility in timing of construction and funding; and the land being acquired through this action is
for Phases One and Two as described below:
1. South 5t1i Street extension and the portion of South Grand Avenue from Squaw Creek
Drive (the existing dead end)to South 5th Street
2. South Grand Avenue South of South 5t1i Street(this portion includes two bridges to
accommodate Squaw Creek under the roadway)
3. Reconstruction and widening additional turn lanes at South Duff Avenue and South
16th Street
NOW,THEREFORE,BE IT RESOLVED,bythe City Council ofthe City ofAmes,Iowa,
that the Purchase Agreement between the City of Ames and Stone Court Apartments Cooperative
Housing Association, Inc., relating to the purchase of Parcel 3 is hereby approved.
ADOPTED THIS 23rd day of October, 2018.
Diane R. Voss, City Clerk John A. Haila, Mayor
Introduced by: Betcher
Seconded by: Corrieri
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin,Nelson
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 23' day of October, 2018.