Loading...
HomeMy WebLinkAbout82-99 RESOLUTION• • RESOLUTION NO. 8 2 •- 99 A RESOLUTION APPROVING AN OFFER AND ACCEPTANCE CONTRACT IN THE AMOUNT OF $34,500, PLUS ASSOCIATED CLOSING COSTS, TO PURCHASE 1.22 ACRES OWNED BY CHARLES T. COMBS FOR THE EXTENSION OF SIXTH STREET FROM WOOD AVENUE TO EAST HUNTSVILLE ROAD. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council hereby approves an Offer and Acceptance Contract in the amount of $34,500, plus associated closing costs, to purchase 1.22 acres owned by Charles T. Combs for the extension of Sixth Street from Wood Avenue to East Huntsville Road. A copy of the contract is attached hereto marked Exhibit "A" and made a part hereof. PASSED AND APPROVED this 1.511 day of June , 1999. By: /.A7-ee Heather Woodruff, City Cork APPROVED: ////�w_ By %"/0-144 Fred Hanna, Mayor • OFFER AND ACCEPTANCE CONTRACT EXHIBIT A 1. The City of Fayetteville, Arkansas, a municipal corporation, hereinafter referred to as the Buyer, offers to buy, subject to the terms and conditions set forth herein, the following described property: SEE ATTACHED EXHIBIT "A" FOR PROPERTY DESCRIPTION 2. Seller agrees to enter into a Temporary Construction and Grading Easement with the City of Fayetteville, the description of said Easement as shown in Exhibit "B" attached hereto. The . Temporary Construction and Grading Easement will terminate upon completion and acceptance by the City of Fayetteville the project that extends Sixth Street from Wood Avenue to Huntsville Road. 3. Purchase Price: Subject to the following conditions, the Buyer shall pay for the property referred to in Item #1 and the easement referred to in Item #2, at closing, the total and cash payment of $34,500.00. 4. Contingent Eamest Money Deposit: The Buyer will, within two (2) weeks of receipt of this contract, fully executed, tender a check for $1,000.00 to Charles T. Combs, hereinafter referred to as the Seller, as eamest money, which shall apply on the purchase price This offer of purchase is contingent upon approval of the City Council of the City of Fayetteville, Arkansas, and, if they do not so approve, the earnest money deposit will be returned to the Buyer by the Seller. If title requirements are not fulfilled or the Seller fails to fulfill any obligations under this contract, the earnest money shall be promptly refunded to the Buyer. If the Buyer fails to fulfill his obligations under this contract or after all conditions have been met, the Buyer fails to close this transaction, the earnest money may, at the option of the Seller, become liquidated damages to the Seller Alternatively, the Seller may assert legal or equitable rights which it may have because of breach of this contract Conveyances will be made to the Buyer by general Warranty Deed and Temporary Construction and Grading Easement, except they shall be subject to recorded instruments and easements, if any, which do not materially affect the value of the property. Such Warranty Deed conveyance shall include mineral rights owned by the Seller. 6. The Seller shall furnish a policy of title insurance on Item #1 in the amount of $ 33.750.00 from a title insurance company as selected by the Buyer. Buyer and Seller shall share equally in the cost of title insurance. 7. Seller agrees to allow Buyer, if Buyer so desires, at Buyer's expense, to survey the property. Seller agrees to cure any title problems which may result from any differences between the recorded legal descriptions of the property and the survey description. Said title problems, if any, must be solved prior to closing to the satisfaction of the Buyer. 8. Taxes and special assessments due on or before closing shall be paid by the Seller. Insurance, general taxes, ad valorem taxes, special assessments and rental payments shall be prorated as of closing. Buyer shall pay to Seller at closing that prorated portion of taxes and assessments due for the tax year of purchase. OFFER AND ACCEPTANCE CONTRACT Page 3 of 5 SELLER: Charles T. Combs AGENT OR WITNESS: t. BUYER: City of Fayetteville, Arkansas, a municipal corporation FreHanna Ma or Y z/ ede eather Woodruff, City Clerk Date: J - Z7- q`f Date: Date: h/%y Date: 5-42/%9 (SEAL) OFFER AND ACCEPTANCE CONTRACT Page5of5 EXHIBIT "B" TEMPORARY CONSTRUCTION AND GRADING EASEMENT DESCRIPTION PROPERTY DESCRIPTION: Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas, LESS AND EXCEPT the North fifty-three (53) feet of Lot 4 A fifteen (15 ) foot wide temporary construction and grading easement across the above described• property, being parallel with and contiguous to the north line and situated on the south side thereof. This temporary construction and grading easement contains 4,277 square feet (0.098 acre), more or less. , SIGNED FOR IDENTIFICATION: SELLER: a. -LT 00.,L Charles T. Combs OFFER AND ACCEPTANCE CONTRACT Page 4 of 5 EXHIBIT "A" PROPERTY DESCRIPTION All of Lot Three (3) and the north fifty-three (53) feet of Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas. SIGNED FOR IDENTIFICATION: SELLER: -- aJt- Charles T. Combs OFFER AND ACCEPTANCE CONTRACT Page 5 of 5 EXHIBIT "B" TEMPORARY CONSTRUCTION AND GRADING EASEMENT DESCRIPTION PROPERTY DESCRIPTION: Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas, LESS AND EXCEPT the North fifty-three (53) feet of Lot 4. A fifteen (15 ) foot wide temporary construction and grading easement across the above described property, being parallel with and contiguous to the north line and situated on the south side thereof. This temporary construction and grading easement contains 4,277 square feet (0.098 acre), more or less. SIGNED FOR IDENTIFICATION: SELLER: cat Charles T. Combs • • FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENTAL CORRESPONDENCE To: Ed Connell, Engineering From: Heather Woodruff, City Clerk Date: June 22, 1999 Attached is a copy of the resolution approving the offer and acceptance with Charles T. Combs for your records The original will be microfilmed and filed with the City Clerk. cc. Yolanda Fields, Internal Auditor • • STAFF REVIEW FORM X AGENDA REQUEST CONTRACT REVIEW GRANT REVIEW For the Fayetteville City Council meeting of June 15, 1999 FROM: Re -s 72-99 MICROFILMED Engtneenng Pubhc Works Division Department ACTION REQUIRED: Approval of a resolution authorizing the City to purchase 1.22 acres of un improved land from Charles T. Combs for $34,500.00 plus closing costs in association with the extension of Sixth Street from Wood Avenue to East Huntsville Road. COST TO CITY: ,So° ass a. ost of was - Request 826 491 00 ategory/Project Budget Category/Project Street Extension to E Huntsville Road ategory ject Name 4470-9470-5809-00 $ 75.000 00 Account Number Funds Used To Date Program Name 6044-30 ject Number 751,491 00 emammg'Balance FSaIIs Tax CIP BUDGET REVIEW: Budget Coordinator X Budgeted It A.n 1 _ Budget Adjustment Attached strattve ervices Director CONTRACT/GRANT/LEASE REVIEW Date °9 4 —9? ga_ate eLcci I G AGE utofu "" ate A Coordmator Date STAFF RECOMMENDATION: Staff recommends approval of this acquisition so that this project can be scheduled for implementation. This property represents 37% of the required acquisition on this project. 2 J;,.4,71 ate Cross Reference New Item: Yes X No Date Prev Ord/Res #: ate Orig Contract Date: to STAFF REVIEW FORM Description Combs Propertv--Sixth Street Extension to East Huntsville Road Meeting Date June 15. 1999. Comments: Budget Coordinator Accounting Manager City Attomey Purchasing Officer ADA Coordinator Internal Auditor Reference Comments: Page 2 • FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENTAL CORRESPONDENCE DATE. June 2, 1999 TO: Fayetteville City Council THRU: Fred Hanna, Mayor Charles Venable, Public Works Director Donald Bunn, Assistant Pubic Works Director Jim Beavers, City Engineer FROM: Ed Connell, Land Agent G/,� __2 RE: Sixth Street Extension to East Huntsville Road Offer and Acceptance Contract - Combs Please find herewith an executed Offer and Acceptance Contract between the City and Charles T. Combs relative to the acquisition of 1.22 acres of land (Tract 2) of unimproved land for the extension of Sixth Street from Wood Ave, to East Huntsville Road. This property is the second of four property owners from which right of way is being acquired. The Combs property acquisition constitutes 37% of the total additional right of way needed for this street extension This property, along with the Smith property (approved for purchase on June 1, 1999) will account for almost 90% of the additional right of way. Please refer to the attached diagram which illustrates the right of way acquisition for this project Although not illustrated here, Huntsville Road, just West of Blair Ave., will be closed to through traffic and all Huntsville traffic is to be directed to the North-South extension of Mashburn Ave. The City's appraisal for this 1.22 acre land acquisition, plus some additional for landscape damages and temporary easement, amounted to $32,550.00. This amount was offered to Mr. Combs in April of this year Mr. Combs engaged another local appraiser to appraise the City taking: said appraiser estimated the value to be $34,500.00. Please find herewith summary page copies of both independent appraisals. The City agreed with Mr. Combs counter of $34,500.00, a 5.9% increase over the City original offer Enclosed is a copy of a Offer and Acceptance contract between the City and Mr. Combs to this affect. Staff recommends the passage of a resolution to the City Council accepting this contract. Charles T. Combs: Drainage ),and Esmt. TCE, Improvements Total Damages Tract #2: Parts of P 765-02490-000 & 765-02491-000 $33,750 0 450 300. 34,500 • FAYETTEVILL E THE CITY OF FAYETTEVILLE, ARKANSAS May 27, 1999 Charles T. Combs 6516 E Riverdale St. Mesa, AZ 85215 RE: Sixth Street Extension Job No. 96044 Tract No. 2 Parcel Nos. 765-02490-000 & 765-02491-000 Revised Offer Letter Dear Mr. Combs: The City of Fayetteville is planning the extension of Sixth Street from Huntsville Road to Wood Avenue. It is therefore necessary to obtain right of way for the street and a temporary construction easement across a portion of your property for this project. The temporary construction easement will terminate upon completion and acceptance of the project by the City. Included is a general map of the subject area, as well as a drawing of your specific property depicting the anticipated areas required for right of way and the temporary easement. The City of Fayetteville hereby offers $33,750.00 for the acquisition of right of way (53,314 square feet), $450.00 as rental of the land associated with the Temporary Construction and Grading Easement (4,277 square feet), and $300.00 for landscape damages (loss of a rail fence within right of way area); making the total offer amount $34,500.00. These amounts are based on an appraisal done by Byron Al Thompson, Appraisals, Inc. and dated May 10, 1999. Also enclosed is a drawing depicting two foot contours in relation to the property—both the proposed acquisition area and your remaining part of Lot 4. Please note that the proposed drainage pipe to be installed follows these contours and no additional stormwater drainage is expected to empty from this system than is currently being carried naturally across the property. Should you elect to accept this offer, the Offer and Acceptance Contract (two originals enclosed) contained herein should be executed by all parties with current ownership interest in the particular property. The Offer and Acceptance Contract is subject to City Council approval. Also enclosed are draft copies of the proposed Warranty Deed and Temporary Construction and Grading Easement. 113 WEST MOUNTAIN 72701 501 521-7700 FAX 501 575-8257 Mr. Combs Offer Letter, Page 2 of 2 If you make a final rejection of this offer, you do have certain legal rights which are outlined hereafter. Upon your final rejection of this offer, and if the City of Fayetteville elects to do so, a suit of condemnation may be filed. The amount of just compensation for the purchase and use of your property will be determined by an independent appraisal and deposited with the Registry of the Circuit Court of Washington County. You may, at that time, elect to accept the amount deposited as just compensation and the amount will be paid to you thereby disposing of the condemnation suit. If you do not elect to accept the amount deposited as just compensation, then you may . withdraw the amount placed on deposit without prejudice to your rights to claim additional compensation. In this event, you will be entitled to a trial by jury in the Circuit Court to determine just compensation for your lands condemned. In either event, payment of the estimated just compensation will be made available to you. We, however, ask that you accept the offer made herein by executing the attached Offer and Acceptance Contract Please return one copy of the fully executed Offer and Acceptance Contract. (The other one is for your files.) The Offer and Acceptance Contract must be approved by the City Council and the document is subject to that approval. Please provide us with a Tax Identification Number (Corporation) or Social Security Number so that an eamest money check can be written upon execution of the proposed Offer and Acceptance Contract. A Vendor Form is provided for this purpose. A City Land Agent will be glad to meet with you at your convenience and discuss all phases of this project and the associated easements. Please contact Ed Connell at (501) 444- 3415, Jill Goddard at 444-3407 or I can be reached at 575-8206. Sincerely yours, Jim Beavers City Engineer JB/jsg Attachments FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS April 12, 1999 Charles T. Combs 6516 E Riverside Mesa, AZ 85215 RE: Sixth Street Extension Job No. 96044 Tract No. 2 Parcel Nos. 765-02490-000 & 765-02491-000 Offer Letter Dear Mr. Combs: The City of Fayetteville is planning the extension of Sixth Street from Huntsville Road to Wood Avenue. It is therefore necessary to obtain right of way for the street and a temporary construction easement across a portion of your property for this project. The temporary construction easement will terminate upon completion and acceptance of the project by the City. Included is a general map of the subject area, as well as a drawing of your specific property depicting the anticipated areas required for right of way and the temporary easement. The City of Fayetteville hereby offers $32,000.00 for the acquisition of right of way (53,314 square feet), $300.00 as rental of the land associated with the Temporary Construction and Grading Easement (4,277 square feet), and $250.00 for landscape damages (loss of a rail fence within right of way area); making the total offer amount $32,550.00. These amounts are based on an appraisal done by Mark Risk, The Real Estate Consultants (a copy of the summary sheet is attached). Also enclosed is a drawing depicting two foot contours in relation to the property—both the proposed acquisition area and your remaining part of Lot 4. Please note that the proposed drainage pipe to be installed follows these contours and no additional stormwater drainage is expected to empty from this system than is currently being carried naturally across the property. Should you elect to accept this offer, the Offer and Acceptance Contract (two originals enclosed) contained herein should be executed by all parties with current ownership interest in the particular property. The Offer and Acceptance Contract is subject to City Council approval. Also enclosed are draft copies of the proposed Warranty Deed and Temporary Construction and Grading Easement. 113 WEST MOUNTAIN 72701 501 521-7700 • FAX 501 575-8257 • • Mr. Combs Offer Letter, Page 2 of 2 If you make a final rejection of this offer, you do have certain legal rights which are outlined hereafter. Upon your final rejection of this offer, and if the City of Fayetteville elects to do so, a suit of condemnation may be filed. The amount of just compensation for the purchase and use of your property will be determined by an independent appraisal and deposited with the Registry of the Circuit Court of Washington County. You may, at that time, elect to accept the amount deposited as just compensation and the amount will be paid to you thereby disposing of the condemnation suit. If you do not elect to accept the amount deposited as just compensation, then you may withdraw the amount placed on deposit without prejudice to your rights to claim additional compensation. In this event, you will be entitled to a trial by jury in the Circuit Court to determine just compensation for your lands condemned. In either event, payment of the estimated just compensation will be made available to you. We, however, ask that you accept the offer made herein by executing the attached Offer and Acceptance Contract. Please return one copy of the fully executed Offer and Acceptance Contract. (The other one is for your files.) The Offer and Acceptance Contract must be approved by the City Council and the document is subject to that approval. Please provide us with a Tax Identification Number (Corporation) or Social Security Number so that an earnest money check can be written upon execution of the proposed Offer and Acceptance Contract. A Vendor Form is provided for this purpose. A City Land Agent will be glad to meet with you at your convenience and discuss all phases of this project and the associated easements. Please contact Ed Connell at (501) 444- 3415, Jill Goddard at 444-3407 or I can be reached at 575-8206. Sincerely yours, B im Beavers City Engineer JB/jsg Attachments FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS May 28, 1999 Charles T. Combs 6516 E Riverdale Street Mesa, AZ 85215 RE: Sixth Street Extension Job No. 96044 Parcel nos. 765-02490-000 & 02491-000 Offer and Acceptance Dear Charlie: In accordance with our meeting of May 27, 1999 in Fayetteville, we are pleased to include herewith one fully executed original of the subject Offer and Acceptance contract between the city and yourself relative to the purchase, by the City, of 1.75 acres of land for the subject project. As noted in the document, as well as the included revised Offer Letter, the agreed compensation of $34,500.00 has been incorporated As we discussed, the procedure that is to be followed from this point is as follows; 1) This office will prepare the required information and submit an agenda item to the Fayetteville City Council for their approval of this purchase. This could take as much as six weeks before this approval is obtained. 2) Within the next couple of working days, this office will request a title insurance policy commitment be written by Bronson Abstract Company, Inc of Fayetteville. It will take about a month to obtain this commitment. Bronson will also give us a cost for such title insurance policy, such cost will be equally shared at closing. 3) Since you are going to utilize a Code 1031 Deferred Tax intermediary in this transaction, we suggest that you arrange for their involvement as soon as possible. We do have some questions with regard to the temporary easement rental ($450) and the landscape damages (#300) which may have to be paid to you outside the scope of the 1031 transaction. 4) Do you have any of this property under lien or mortgage? If so, it is important that the abstractor and ourselves be made aware of who and to what extent. 5) The City will work with your intermediary as to an exact closing time, wherein the monies will be wired to the trust of the intermediary. If there are no liens or mortgages on this property, this office will prepare the necessary closing statements and deeds, thus there will not be a cost involved for closing. If it becomes necessary to utilize a closing agent due to the existence of a lien or mortgage on this property, 113 WEST MOUNTAIN 72701 501 521-7700 PAY cm 575-8257 Charles T. Combs May 28, 1999 Page 2 5) continued — then the fee or cost of such closing agent will be equally borne by the Seller and Buyer. 6) The Offer and Acceptance contract indicates a closing date to be 30 days after approval by the Fayetteville City Council. This can be extended if necessary, however, we are probably looking at 60-70 days from now. Please have your intermediary contact me at 501-444-3415 and we will be pleased to provide whatever information they might require. We appreciate your cooperation on this matter. Enclosure Sincerely, dward D. Connell City Land Agent OFFER AND ACCEPTANCE CONTRACT 1. The City of Fayetteville, Arkansas, a municipal corporation, hereinafter referred to as the Buyer, offers to buy, subject to the terms and conditions set forth herein, the following described property: SEE ATTACHED EXHIBIT "A" FOR PROPERTY DESCRIPTION 2 Seller agrees to enter into a Temporary Construction and Grading Easement with the City of Fayetteville, the description of said Easement as shown in Exhibit "B" attached hereto. The Temporary Construction and Grading Easement will terminate upon completion and acceptance by the City of Fayetteville the project that extends Sixth Street from Wood Avenue to Huntsville Road. Purchase Price: Subject to the following conditions, the Buyer shall pay for the property referred to in Item #1 and the easement referred to in Item #2, at closing, the total and cash payment of $34,500 00. 4. Contingent Eamest Money Deposit The Buyer will, within two (2) weeks of receipt of this contract, fully executed, tender a check for $1,000 00 to Charles T. Combs, hereinafter referred to as the Seller, as earnest money, which shall apply on the purchase price This offer of purchase is contingent upon approval of the City Council of the City of Fayetteville, Arkansas, and, if they do not so approve, the earnest money deposit will be returned to the Buyer by the Seller. If title requirements are not fulfilled or the Seller fails to fulfill any obligations under this contract, the earnest money shall be promptly refunded to the Buyer. If the Buyer fails to fulfill his obligations under this contract or after all conditions have been met, the Buyer fails to close this transaction, the earnest money may, at the option of the Seller, become liquidated damages to the Seller Alternatively, the Seller may assert legal or equitable rights which it may have because of breach of this contract 5. Conveyances will be made to the Buyer by general Warranty Deed and Temporary Construction and Grading Easement, except they shall be subject to recorded instruments and easements, if any, which do not materially affect the value of the property. Such Warranty Deed conveyance shall include mineral rights owned by the Seller. 6. The Seller shall furnish a policy of title insurance on Item #1 in the amount of $ 33.750.00 from a title insurance company as selected by the Buyer. Buyer and Seller shall share equally in the cost of title insurance. 7. Seller agrees to allow Buyer, if Buyer so desires, at Buyer's expense, to survey the property. Seller agrees to cure any title problems which may result from any differences between the recorded legal descriptions of the property and the survey description. Said title problems, if any, must be solved prior to closing to the satisfaction of the Buyer. 8. Taxes and special assessments due on or before closing shall be paid by the Seller. Insurance, general taxes, ad valorem taxes, special assessments and rental payments shall be prorated as of closing. Buyer shall pay to Seller at closing that prorated portion of taxes and assessments due for the tax year of purchase. • OFFER AND ACCEPTANCE CONTRACT Page 3 of 5 SELLER:. Charles T. Combs AGENT OR WITNESS: BUYER: City of Fayetteville, Arkansas, a municipal corporation FreHanna, Mayor • adiC Air Bather Woodruff, City Clerk • Date: S- �7- 97 Date: Date: P7/1, Date: Date: 5-42/7 (SEAL) • OFFER AND ACCEPTANCE CONTRACT Page5of5 EXHIBIT "B" TEMPORARY CONSTRUCTION AND GRADING EASEMENT DESCRIPTION PROPERTY DESCRIPTION: Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas, LESS AND EXCEPT the North fifty-three (53) feet of Lot 4. A fifteen (15 ) foot wide temporary construction and grading easement across the above described property, being parallel with and contiguous to the north line and situated on the south side thereof. This temporary construction and grading easement contains 4,277 square feet (0.098 acre), more or less. SIGNED FOR IDENTIFICATION: SELLER: Cat Ineptt Charles T. Combs • OFFER AND ACCEPTANCE CONTRACT Page 4 of 5 EXHIBIT "A" PROPERTY DESCRIPTION All of Lot Three (3) and the north fifty-three (53) feet of Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas. SIGNED FOR IDENTIFICATION: Charles T. Combs