HomeMy WebLinkAbout~Master - Approving Sale of 1101 Aviation Way to Mulmac, LLC DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER
Prepared by:Diane Voss,City Clerk's Office,515 Clark Avenue,Ames,IA 50010
Return to:Ames City Clerk,P.O.Box 811,Ames,IA 50010 Phone:515-239-5105
RESOLUTION NO.22-146
RESOLUTION APPROVING SALE OF 1101 AVIATION WAY TO MULMAC,LLC
FOR THE CITY OF AMES,IOWA
WHEREAS,on January 14,2020,City Council approved the sale of 1101 Aviation Way to Mulmac,LLC,
the current land lessee for the property; and,
WHEREAS,the operating business on the property is Sigler Companies;and,
WHEREAS,the agreed upon price included the present value of the lease rights through June 30,2047,the
value of the land,and the improvements made on the property per the Developer's Agreement; and,
WHEREAS,the total sale price for the property is$2,838,250;and,
WHEREAS, staff had verified that the land was not acquired with federal funds;therefore,the City is not
required to follow the Federal Aviation Administration(FAA)process for the sale of the land;and,
WHEREAS,the subdivision creating and preparing the lot for sale and establishing new street right-of-way
for Aviation Way was approved by City Council on September 14,2021; and,
WHEREAS,land leases are a critical revenue generating activity for the Airport and to ensure the solvency
of the Airport's operating budget after this sale, staff will invest the proceeds from the sale and transfer an annual
amount equal to the lease payment schedule as operating revenue for the airport.
NOW, THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that the sale of
1101 Aviation Way to Mulmac,LLC is hereby approved.
ADOPTED THIS 22"d day of March,2022.
Diane R.Voss,City Clerk Jo A.Haila,Mayor
Introduced by: Betcher
Seconded by: Rollins
Voting aye: Beatty-Hansen,Betcher,Corrieri,Gartin,Junck,Rollins
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 22°d day of March,2022.