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HomeMy WebLinkAbout29-03 RESOLUTION• RESOLUTION NO.29-03 A RESOLUTION APPROVING AN OFFER AND ACCEPTANCE CONTRACT BETWEEN THE CITY OF FAYETTEVILLE AND THE UNIVERSITY OF ARKANSAS FOR THE SALE OF THIRTY-TWO (32) ACRES, MORE OR LESS OF LAND LOCATED AT SOUTH SCHOOL AVENUE AND 19TH STREET FOR THE AMOUNT OF THREE HUNDRED SEVENTY THOUSAND DOLLARS (S370,000.00), LESS ASSOCIATED CLOSING COSTS. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council of the City of Fayetteville, Arkansas hereby approves an Offer and Acceptance contract between the City of Fayetteville and the University of Arkansas for the sale of Thirty -Two (32) acres, more or less of land located at South School Avenue and 19Th Street for the amount of Three Hundred Seventy Thousand Dollars (5370,000.00), less associated closing costs A copy of the contract marked Exhibit "A" is attached hereto and made a part hereof. PASSED AND APPROVED this 18th day of February, 2003. ¥AU 1. /• 'F ,; l e �y�• .; o\i f4 •;• 4 •` ,'i.e • j • :,•, • ATTEST. By: el) 404D SONDRA SMITH, City Clerk APPROVED: By: n . OFFHAND ACCEPTANCE CONT&T That the Board of Trustees of the Unrversrty of Arkansas , acting on behalf of the University of Arkansas, Fayetteville, 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 (32± Acres) from the City of Fayetteville, Arkansas, a municipal corporation, hereinafter referred to as the Seller. Purchase Price: Subject to the following conditions, the Buyer shall pay for the property at closing, the total and cash only payment of $ 370,000 . Conditions of Sale and Purchase:. As Buyer, the Board of Trustees of the University of Arkansas is aware that this offer to sell is contingent upon approval of the City Council of the City of Fayetteville, Arkansas, and, if they do not so approve, this contract is considered to be null and void. As Seller, the City of Fayetteville is aware that this offer to purchase is contingent upon the approval of the Board of Trustees of the University of Arkansas and , if they do not approve, this contract is considered to be null and void. If title requirements are not fulfilled or the Seller fails to fulfill any obligations under this contract, the Buyer may, at its option, declare this contract null and void. If the Buyer fails to close this transaction or fails to fulfill his obligations under this contract or after all conditions have been met, the Seller at his option, may declare such contract to be null and void. Alternatively, either party may assert legal or equitable rights which each may have because of breach of contract. Conveyance will be made to the Buyer by General Warranty Deed and such deed shall be subject to recorded instruments and easements, if any. Such conveyance shall include any and all rights owned by the Seller. The Seller shall, at sellers expense, fumish a policy of title insurance in the amount of the purchase price from a title insurance company as selected by the Seller. Seller agrees to provide Buyer, at Buyer's expense, a survey the property described herein.. 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. 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. The closing date shall be within sixty (60) days after approval of this contract by the Fayetteville City Council and the Board of Trustees of the University of Arkansas, whichever occurs later. All conditions precedent to closing shall have been met to the buyer's satisfaction or waived by the Buyer prior to closing and closing shall be extended until such conditions are satisfied or waived. If such date of closing falls on a weekend or holiday, it will be held the following working day. Closing costs, except for those heretofore mentioned, shall be shared equally between Buyer and Seller 10. Possession of the property shall be delivered to the Buyer on the date of closing. • OFFER AND ACCEPTANCE COTRACT Page 2 of 5 • 11. Seller hereby grants permission for the Buyer or its employees or designates to enter the above described property and improvements for the purpose of inspec-tion and/or surveying. 12. All fixtures, improvements and attached equipment are included in the purchase price. time of closing is assumed by the Seller. 13. Risk of loss or damage to the property by fire or other casualty occurring up to the time of closing is assumed by the Seller. 14. Seller shall disclose to Buyer any and all environmental hazards of which Seller has actual knowledge. Buyer may obtain a preliminary Phase I, or modified Phase I, environmental assessment within the specified time frame for closing. If the assessment indicates the existence of asbestos or heavy metals in quantities which are considered as hazardous materials or environmental hazards and require mediation, then Buyer may extend said closing until such hazards have been corrected by Seller, or Buyer may terminate this contract. Altematively, Seller may elect to deduct the cost of such mediation from the purchase price. 15. This agreement shall be govemed by the laws of the State of Arkansas. • 16. This agreement, when executed by both the Buyer and the Seller shall contain the entire understanding and agreement of the parties with respect to the matters referred to herein and shall supersede all price or contemporaneous agreements, representations and understanding with respect to such matters, and no oral representations or statements shall be considered a part hereof. 17. This contract expires, if not accepted by the Administration of the Seller, on or before the /r day of, 2003. 18. The property, as described herein, shall be sold on a as -is basis, with no actual or implied guarantees or conditions, other than those set forth in this document. 19. It is understood and agreed by Buyer and Seller that each entity will submit for approval by their respective goveming bodies within a period of 60 days after this document is fully executed. 20.. NOTICE: SELLER ASSERTS AND BUYER HEREBY ACKNOWLEDGES THAT THIS CONTRACT IS EXPRESSLY CONTINGENT UPON THE APPROVAL OF THE CITY COUNCIL OF FAYETTEVILLE AND THE BOARD OF TRUSTEES OF THE UNIVERSITY OF ARKANSAS, AND THAT THE FAILURE OF THE COUNCIL OR BOARD OF TRUSTEES TO SO APPROVE WILL MAKE ALL PORTIONS OF THIS CONTRACT NULL AND VOID. OFFER AND ACCEPTANCE COACT Page 3 of 5 SELLER: City of Fayetteville, Arkansas A municipal Corporation BY: Dan Coody ATTEST:: ayor BUYER: Board of T BY; 1`u Bather Wood ff� le tees of the University of Arkansas • 2,0 et) ,amu /j Ajsco/�%i „D,.ga. (Name and Title) ATTEST: Pr (Name and T tle) Date: /- Date: /- Date: /124L3 Date: I I.2' b 3 OFFER AND ACCEPTANCE COI ACT Page 4 of 5 EXHIBIT "A" PROPERTY DESCRIPTION PROPERTY DESCRIPTION: Parcel Number: 765-14990-000: Part of the Southwest Quarter (SW%) of the Southeast Quarter (SE'/.) of Section Twenty-one (21), Township Sixteen(16) North, Range Thirty (30) West of the 5'" P. M., Washington County, Arkansas described as Beginning at a Point 457.52 feet South of the Northeast comer of said forty acre tract, said point being on the South right of way line of 19" Street, which is 25 feet South of the centerline of said street; thence South 308.45 feet; thence South 89° 35' 35" West 518.36 feet; thence North 9° 04' 00" East 65.00 feet; thence North 88° 58' 00" West 184.15 feet to the East right of way line of U.S. Highway 71B; thence along said East right of way line North 7° 25' 39" East 261.54 feet to the South right of way line of 19th Street; thence along the South right of way line of 19th Street South 88° 43' 09" East 658.58 feet to the Point of Beginning, containing 4.69 acres, more or less, subject to easements and rights of way of record, and, Parcel Number : 765-15023-000 Part of the Southeast Quarter (SE''.) of the Southeast Quarter (SE'/.) of Section 21, Township 16 North, Range 30 West of the 5th P.M., Washington County, Arkansas, lying South of the South right of way line of an East-West Road (now 19°1 Street) and being more particularly described as follows, to -wit: Beginning at a Point 25 feet South of the centerline of said road (now 19th Street), said point being 457.52 feet South of the Northwest comer of the SE'/. of the SE% of said Section 21; thence along the South right of way line of said roadway South 89° 51' 49" East 496.63 feet; thence North 84° 27' 31" East 813.59 feet to the East line of the forty acre tract; thence with said East line South 951.84 feet to the SE comer of said forty acre tract; thence along the South line of said forty acre tract West 1306.42 feet to the SW corner of said forty acre tract; thence along the West line of said forty acre tract North 874.46 feet to the Point of Beginning and containing 26.55 acres, more or less, subject to rights of way and easements of record. SELLER: City of Fayetteville, Arkansas BY: SIGNED FOR IDENTIFICATION Title: Dan oody, May BUYER: UNIVERSITY OF ARKANSAS BY Title Date: _17/4C/223___ Date: //Z/d3 OFFER AND ACCEPTANCE CONTRACT Page 5 of 5 STATE OF ARKANSAS COUNTY OF WASHINGTON ) ) ) ACKNOWLEDGMENT ss BE IT REMEMBERED, that on this date, before the undersigned, a duly commissioned and acting Notary Public within and for said County and State, personally appeared Tr,rry s Ez n,l 1 and Ft lr n , to me well known as the persons who executed the foregoing document, and who-) stated and acknowledged that they are duly authorized to execute the foregoing instrument for and in the name and behalf of the trustees of the University of Arkansas, and further stated and acknowledged that they had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. WITNESS my hand and seal on this day of MY COMMISSION EXPIRES: -/ o-02azz lama 2003. Notary Public STATE OF ARKANSAS COUNTY OF WASHINGTON ) ) ) ACKNOWLEDGMENT ss BE IT REMEMBERED, that on this date, before the undersigned, a duly commissioned and acting Notary Public within and for said County and State, personally appeared Dan Coody and Heather woodruff, to me well known as the person who executed the foregoing document, and who stated and acknowledged that they are the Mayor and City Clerk of the City of Fayetteville, Arkansas, a municipal corporation, and are duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said municipal corporation, and further stated and acknowledged that they had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. WITNESS my hand and seal on this day oaf H <lee MY COMMISSION EXPIRES: O,.%eV-1c/Pat \C•PrODS , •: EDWARD D. CONNELL Washington County My Commission Exp.ec Ma 1, 2010 , 2003 Notary Public PROPERTY DESCRIPTION: Parcel Number: 765-14990-000: • Part of the Southwest Quarter (SWY.) of the Southeast Quarter (SE%) of Section Twenty-one (21), Township Sixteen(16) North, Range Thirty (30) West of the 5" P. M., Washington County, Arkansas described as Beginning at a Point 457.52 feet South of the Northeast corner of said forty acre tract, said point being on the South right of way line of 19°' Street, which is 25 feet South of the centerline of said street; thence South 308.45 feet; thence South 89° 35' 35" West 518.36 feet; thence North 9° 04' 00" East 65.00 feet; thence North 88° 58' 00" West 184.15 feet to the East right of way line of U.S. Highway 71B; thence along said East right of way line North 7° 25' 39" East 261.54 feet to the South right of way line of 19'" Street; thence along the South right of way line of 19th Street South 88° 43' 09" East 658.58 feet to the Point of Beginning, containing 4.69 acres, more or less, subject to easements and rights of way of record, and, Parcel Number : 765-15023-000 Part of the Southeast Quarter (SE%) of the Southeast Quarter (SE%) of Section 21, Township 16 North, Range 30 West of the 5°i P.M., Washington County, Arkansas, lying South of the South right of way line of an East-West Road (now 19°i Street) and being more particularly described as follows, to -wit: Beginning at a Point 25 feet South of the centerline of said road (now 19°' Street), said point being 457.52 feet South of the Northwest comer of the SE1/4 of the SE% of said Section 21; thence along the South right of way line of said roadway South 89° 51' 49" East 496.63 feet; thence North 84° 27' 31" East 813.59 feet to the East line of the forty acre tract; thence with said East line South 951.84 feet to the SE comer of said forty acre tract; thence along the South line of said forty acre tract West 1306.42 feet to the SW corner of said forty acre tract; thence along the West line of said forty acre tract North 874.46 feet to the Point of Beginning and containing 26.55 acres, more or less, subject to rights of way and easements of record • • NAME OF FILE: CROSS REFERENCE: Resolution No. --03 Document • .V 1 02/18/03 Res. 29-03 w/Offer & Acceptance Contract attached 2 02/04/03 Staff Review Form w/attachment 1/15/03 memo to City Council copy of map for subject area copy of map for Tract 1, Tract 2, Tract 3 copy of property description copy of form letter for certified letter copy of list of adjacent property owners copy of public notice copy of public notice to NWA Times 3 02/25/03 memo to Ed Connell NOTES: FAYETTEfI LLE TNI CITY OF TAYETTIVILLL ARKANSAS DEPARTMENTAL CORRESPONDENCE • To: Ed Connell Land Agent From: Clarice Buffalohead-Pearman City Clerk Division Date: February 25, 2003 Re: Res. No. 29-03 Attached is an executed copy of the above resolution approving an Offer and Acceptance Contract between the city and University of Arkansas and a copy of the contract. The original O8A contract will be microfilmed and filed with the city clerk's office. If anything else is needed please let the clerk's office know. /cbp Nancy Smith, Internal Auditor • STAFF REVIEW FORM • X AGENDA REQUEST CONTRACT REVIEW GRANT REVIEW For the Fayetteville City Council meeting of February 18, 2003 FROM: Ed Connell a Name Engineenng Planning//Engineering Services Uwi on Uepartmen ACTION REQUIRED: The passage of a resolution approving the Offer and Acceptance Contract between the City of Fayetteville and the University of Arkansas, dated January 6, 2003, for the sale of 32 ± acres of land in a part of the SW -SE -21-16-30 for a price of $370,000, Tess associated closing costs where applicable. COST TO CITY: $ - 370,000 Cost of this Request 1010-0001-4881.02 Account Number NA Project Number $ -0- Category/Project Budget Funds Used to Uate RemainingObatance Sale of Fixed Assets Category/Project Name Program Name General fund 1-und X Budgeted Item Budget Adjustment Attached Administrative Services Director CONTRACT/GRANT/LEASE REVIEW: Accountrf5g laagrf er JA a e y 7 03 ate 03 a rcnasmg urricer GRANTING AGENCY: I or ADA Coordinator //a7103 Cate Date STAFF RECOMMENDATION: This property was purchased in 2002 in conjunction with the University for the development of light industries in this area Staff recommends approval of the contract and the sale of the property to the University at this time. thy ion • ae3 a —03 Date (Z e Cross Reference New Item: Yes _ No Prev Ord/Res #: Orig Contract Date: • • Page 2 STAFF REVIEW FORM Description Sale of 32.± Acres to the University of Arkansas along 19t Street Meeting Date February 18, 2003 Comments: Budget Coordinator Accounting Manager City Attomey Purchasing Officer ADA Coordinator Internal Auditor Reference Comments: FAYETTEA LLE THE CITY OF EAYETIEVIIIE. AERANSAS DEPARTMENTAL CORRESPONDENCE DATE• January 15, 2003 TO: Fayetteville City Council THRU: Dan Goody, Mayor Hugh Earnest, Chief Administrative Officer Greg Boettcher, Water and Waste Water Director Tim Conklin, Planning and Engineering Interim Director1 C' FROM: Ed Connell, City Land Agent RE: 32.0± Acre Land Sale to the University of Arkansas !9") Street and School Avenue Early in 2002, the City of Fayetteville purchased 32.0± acres of land from Bryan Walker III, located across School Ave. from entry into the "Genesis" Center. This property was purchased with monies derived from the sale of 4.0 acres of land on the West side of School Ave. on both sides of what in now called Research Center Boulevard. It was understood that, as part of that sale, the City of Fayetteville would secure the property to the East for future development into an area that could eventually be used to locate small to intermediate size manufacturing facilities that needed to be close to the Research facility of the University. The city paid $360,000 for the 32 acres, the appraisal was $365,000. The City and the University have come to an agreement, subject to Council approval, to convey this 32 acre site to the university. Part of that agreement is that the University will pay what the city has in the actual purchase plus any expense for improvements to the tract. The City spent about $10,000 for demolition and removal of old hazardous buildings on the parcel, thus the value of this sale will amount to $370,000. Attached, you will find a copy of the Offer and Acceptance Agreement signed by both parties. We have advertized this possible sale in the local newspapers, posted signs and advised the adjoining property owners by certified mail. A copy of the advertisement and certified letters are included with this package. The monies from this sale will eventually be directed toward the acquisition of the Mt. Sequoyah Woods site, if such is approved by the Council. _ 111 UN .1112 Ifl 83 raf 01nwufll H iMnuj fl/ mum r . 11111.311 2 ec State Highway 18115" street ib 1I IgI C Cp ( r. Research_ Center Bh c Os:..11-10.: D.re o�ib .1 "�9 Ronneme -r'�\ t ..3'oo Cato Springs Road °` 0 '", Al t ?« W "i sQ r ' .2r Street •.4 M�.o h'..° e. �{ ins igi:31 now a vm.: ns rs , O 'iY seaaM_e't ". c vnaM ��, �, 6 Cr 0 • 9t Y4 • • S•;?:::::;� :::..01 'ty-ts:;;: r.•.;:$40.0):•,* viae i,tir:s144It:Y.t::,., tFE :** • ..,•v%..;: • : •:•: 3« rS:• S.3r:.s1r••%rte:::.; :dtty• :: 'ty: S:;S• ti• :C.3 •• :•••Stiff•'♦•: ::::::4 .0:::*•:o y'•$$$: +4 :$$!:r.:$ . L : � Y �.v .Y>: • Lori : •• .::ttlk:::•:• 9:::::::•::: 0:3?:y ::? • $ : ',•••♦•« i••L•$4.1••iii i:::$S••i0•••i:XeggS «i iii'«: Muadad 111 Ja'$IBM UEti8 Al • X99.46 NO`0F. > 1-04 0 2r 0 SO'OW 97696 N rn aZ N (rn O W so r n O Cn rn m�, A N O‘ W O • • PROPERTY DESCRIPTION: Parcel Number: 765-14990-000: Part of the Southwest Quarter (SW%) of the Southeast Quarter (SE'/.) of Section Twenty-one (21), Township Sixteen(16) North, Range Thirty (30) West of the 5th P. M., Washington County, Arkansas described as Beginning at a Point 457.52 feet South of the Northeast corner of said forty acre tract, said point being on the South right of way line of 19°' Street, which is 25 feet South of the centerline of said street; thence South 308.45 feet; thence South 89° 35' 35" West 518.36 feet; thence North 9° 04' 00" East 65.00 feet; thence North 88° 58' 00" West 184.15 feet to the East right of way line of U.S. Highway 71B; thence along said East right of way line North 7° 25' 39" East 261.54 feet to the South right of way line of 19" Street thence along the South right of way line of 19°i Street South 88° 43' 09" East 658.58 feet to the Point of Beginning, containing 4.69 acres, more or less subject to easements and rights of way of record, and Parcel Number : 765-15023-000 Part of the Southeast Quarter (SE%) of the Southeast Quarter (SE%) of Section 21, Township 16 North, Range 30 West of the 5°1 P.M., Washington County, Arkansas, lying South of the South right of way line of an East-West Road (now 19°' Street) and being more particularly described as follows, to -wit: Beginning at a Point 25 feet South of the centerline of said road (now 19th Street), said point being 457.52 feet South of the Northwest corner of the SE% of the SE% of said Section 21; thence along the South right of way line of said roadway South 89° 51' 49" East 496.63 feet; thence North 84° 27' 31" East 813.59 feet to the East line of the forty acre tract; thence with said East line South 951.84 feet to the SE corner of said forty acre tract; thence along the South line of said forty acre tract West 1306.42 feet to the SW corner of said forty acre tract; thence along the West line of said forty acre tract North 874.46 feet to the Point of Beginning and containing 26.55 acres, more or less, subject to rights of way and easements of record. • FAYETTEVILLE • THE CITY OF FAYETTEVILLE, ARKANSAS January 15, 2003 CERTIFIED MAIL RE: City Property along 19"' Street Sale of 32.0 acres to the University of Arkansas Dear The City of Fayetteville and the University of Arkansas have entered into an Offer and Acceptance Agreement , subject to Fayetteville City Council approval, wherein the City will sell a 32 acre tract of land along and South of 19"' Street and fronting on South School Avenue (formerly Bryan Walker III property) to the University. This land was purchased by the City in early 2002 for the purpose of providing an area for light industry and manufacturing for firms requiring a close proximity to the University Research Center and the "Genesis" program in particular. At this point, the University is willing to purchase the land and the city is willing to sell, however, the purpose of the land is not anticipated to change. This proposed transaction will be on the agenda of the Fayetteville City Council meeting of February 18", 2003, which begins at 6:00 p.m. at the City Administration Building. City Ordinance 4358 requires the direct certified mail (return receipt) notification of all adjoining property owners to ensure that any concerned citizens are aware of the possible transaction. Included herewith is the text of the Public Notice signs placed at the property on School Ave. and on 19th Street. A representative of the University is expected to attend this above noted City Council meeting to answer questions regarding their plans for this property. If you have comments on this possible sale, you are invited to attend the Council meeting of February 18, 2003, or you may voice your opinion by contacting the Mayor's office at 575-8330. Attachment 113 WEST MOUNTAIN 72701 479621-7700 FAX 479-6758257 Sincerely, Edward D. Connell City Land Agent • • Former Walker Property (19th & School) Adiacent Property Owners 1. Mitchell Oil Company, Inc. P. O. Box 1466 Fayetteville, AR 72702 2. Mr. and Mrs. Clyde Ledbetter 818 Wood Avenue Fayetteville, AR 72701 765-15007-000 765-15111-000 3. Mr. and Mrs. Don England Sr. 765-14984-000 120 W 19th Street 765-14984-001 Fayetteville, AR 72701 765-15168-000 4 Mr. and Mrs. Darrel Meredith P. O. Box 1143 Fayetteville, AR 72702 Mr. Earl Ward 22048 Dogwood Cir. Springdale, AR 72764 765-15024-000 765-15008-001 765-15009-000 6. Mr. and Mrs Harold Harmon or Mr. and Mrs. Harold Harmon c/o 4020 Sierra College Blvd 765-15010-000 2050 S. School Avenue Suite 200 765-15026-000 Fayetteville, AR 72701 Rocklin, CA 95677 Mr. and Mrs. Julian Watts 2015 Vale Street Fayetteville, AR 72701 Amelia Grace Miller Sharon Jean Strode P. O. Box 442 Fayetteville, AR 72702 9. University of Arkansas Mr. James Ezell, Program Dir. Business Affairs Office Admin. Bldg., Rm 321 Fayetteville, Ar 72701 10. Mr. and Mrs. Delbert Hester 19 East 19t Street Fayetteville, AR 72701 765-15013-000 765-15028-000 765-15027-000 765-15175-000 • • • Adjacent Property Owners — continued 11. Nona B. Askew, Trustee Nona B. Askew Trust 2322 Askew Private Dr. Fayetteville, AR 72701 12. Mr. Dennis Krebs 319 West 22nd Street Fayetteville, AR 72701 13. Mr. and Mrs. Ibrahim Juma 801 w. 15th Street Fayetteville, AR 72701 765-15325-000 765-15330-000 765-15029-000 0 3 3 0) O Z7 CD l '� O 0 0 CD 0) 01 000 03O ED a 8 CD LIV a co C -11 c o �o °0 CD CD re+O Q 3 o3 CD r,. ao CD V CQ oefa- 5 a 0 CQ c 0 CO = Q 5 - _• CD o CD xi: Can O Q C � r+ O cp CD o -D co ED ED - FCC fe 5' 0 gw CD O -h D 0) 0 cn ea can 0) 0 0 0 0 91 0) ice • 0 C 0. O coCD Q_ C0' CD -I. gin' 0 cn 0 O 3 B1VS aNvl 3210V +0'Z£ •