HomeMy WebLinkAbout71-04 RESOLUTION• a
RESOLUTION NO, 71-04
A RESOLUTION TO APPROVE THE SALE OF A LOT
ENCOMPASSING 3.26 ACRES IN THE SOUTH
INDUSTRIAL PARK TO DAVID AND WAYNE
TURNBULL IN THE AMOUNT OF $68,630.00
AND A BUDGET ADJUSTMENT AS ATTACHED
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 the offer and acceptance contract attached as Exhibit A and authorizes the sale
of parcel 15WX encompassing about 3.26 acres in the South Industrial Park for the
amount of $68,630.00 to David Turnbull and Wayne Turnbull
Section 2: That the City Council of the City of Fayetteville, Arkansas hereby
approves the budget adjustment to reflect the receipt of the funds as attached as
Exhibit B.
PASSED and APPROVED this the 18th day of May, 2004.
ATTEST:
C) -A=
•
;FAYETTEVILLE•
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By: o14dA.4JM.0 2
SONRA SMITH, City Clerk
By:
APPROVED:
DAN COODY, Mayor
• •
OFFER AND ACCEPTANCE CONTRACT
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1. David' ! and Wayne Turnbull, partners. herein offer to buy, subject to the terms and
conditions set forth herein, the following described property:
A part of the Northwest Quarter (NW') of the Southeast Quarter (SEA) of Section
Twenty-seven (27) of Township Sixteen (16) North in Range Thirty (30) West of the Fifth
Principal Meridian, being more particularly described as follows: Beginning at a Point on
the east right of way line of Arkansas State Highway No.156 (City Lake Road), said point
being South 87° 23' 05" East 33.24 feet and South 11° 18' 04" East 6.93 feet of the
Northwest corner of the NW% of the SEA of said Section 27, said point also being an
existing iron at the Southwest comer of Lot No. Twelve (12) of the Fayetteville Industrial
Park West to the City of Fayetteville, Arkansas, as per plat recorded in Plat Book 10 at
Page 17 of the records of the Circuit Clerk and Ex -Officio recorder of Washington County,
Arkansas; thence South 87° 26' 32" East 437.55 feet to a point, said point also being the
southeast comer of Lot No. 12 of said Fayetteville Industrial Park West; thence South 01°
34' 34" West 356.21 feet to a point; thence North 87° 22' 54" West 356.92 feet to the east
right of way line of Arkansas State Highway No.156; thence with said east right of way line
North 11° 38' 27" West 269.50 feet; thence continuing with said east right of way line
North 09° 45' 29" West 96.74 feet to the Point of Beginning, containing 3.26 acres, more
or less, subject to rights of way and easements of record.
2. Purchase Price: Subject to the following conditions, David and Wayne Tumbull shall pay for the
property at closing, the total and cash payment of $68,630.00.
Contingent Earnest Money Deposit: David and Wayne Turnbull herewith tenders a check
for $1,000 to the City of Fayetteville, a municipal corporation, 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 David and Wayne Turnbull by the City of Fayetteville. If title
requirements are not fulfilled or the City of Fayetteville fails to fulfill any obligations under this
contract, the earnest money shall be promptly refunded to David and Wayne Turnbull.. If David
and Wayne Turnbull fail to fulfill their obligations under this contract or after all conditions have
been met, David and Wayne Tumbull fails to close this transaction, the eamest money may, at
the option of the City of Fayetteville, become liquidated damages to the City of Fayetteville.
Alternatively, the City of Fayetteville may assert legal or equitable rights which it may have
because of breach of this contract.
4. Conveyance will be made to David and Wayne Turnbull, partners, by General Warranty Deed,
except it shall be subject to recorded instruments and easements, if any, which do not materially
affect the value of the property. Such conveyance shall include mineral rights owned by the City
of Fayetteville.
5. The City of Fayetteville shall furnish a policy of title insurance in the amount of the purchase price
from a title insurance company as selected by David and Wayne Turnbull. The City of Fayetteville
and David and Wayne Turnbull shall equally share in the cost of said title insurance policy.
6. City of Fayetteville agrees to allow David and Wayne Turnbull, if desired by David and Wayne
Turnbull and at their expense, to survey the property. City of Fayetteville 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 David and Wayne Turnbull.
OFFER AND ACCEPTANCE CONTRACT
• •
Page 2 of 5
7. Taxes and special assessments due on or before closing shall be paid by the City of Fayetteville.
Insurance, general taxes, ad valorem taxes, special assessments and rental payments shall be
prorated as of closing.
8. The closing date shall be within sixty (60) days after approval of this contract by the Fayetteville
City Council. This contract shall be submitted for Fayetteville City Council consideration within
30 days of acceptance and signature by both parties hereto.
9. Possession of the property shall be delivered to David and Wayne Turnbull on the date of closing.
10. The City of Fayetteville hereby grants permission for David and Wayne Turnbull or their
designees or designates, to enter the above described property and improvements for the
purpose of inspection and/or surveying.
11. All fixtures, improvements and attached equipment are included in the purchase price
12. Risk of loss or damage to the property by fire or other casualty occurring up to the time of closing
is assumed by the City of Fayetteville.
13. City of Fayetteville shall disclose to David and Wayne Turnbull any and all environmental hazards
of which City of Fayetteville has actual knowledge. Upon acceptance of all conditions and terms
of this Offer and Acceptance, David and Wayne Turnbull and City of Fayetteville shall share
equally the costs of any and all testing for the existence of environmental hazards. Should the
existence of environmental hazards be known or determined, the City of Fayetteville shall cure
such at City of Fayetteville's expense, or in the alternative, at David and Wayne Turnbull's
discretion, David and Wayne Turnbull may cure such environmental hazard, and City of
Fayetteville shall indemnify David and Wayne Turnbull for all costs associated with said cure.
14. This agreement shall be governed by the laws of the State of Arkansas.
15. This agreement, when executed by both David and Wayne Turnbull and the City of Fayetteville
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 City of Fayetteville on or before the 17th day of April,
2004.
18. It is understood that this offer to purchase is contingent upon receiving a permit to build on said
property, the submittal of plans to the City of Fayetteville for such permit shall occur on or before
the end of four (4) months from the date of acceptance by the City. In the event such permit has
not been issued within a period of three months after original submittal, this Offer and Acceptance
Document shall be considered null and void, and the earnest money specified herein shall be
returned to David and Wayne Turnbull.
• •
OFFER AND ACCEPTANCE CONTRACT
Page 3 of 5
19. NOTICE: DAVID AND WAYNE TURNBULL ASSERT AND CITY OF FAYETTEVILLE
HEREBY ACKNOWLEDGES THAT THIS OFFER IS EXPRESSLY
CONTINGENT UPON THE APPROVAL OF THIS OFFER OF PURCHASE
BY THE CITY COUNCIL OF FAYETTEVILLE AND THAT THE FAILURE
OF THE COUNCIL TO SO APPROVE WILL MAKE ALL PORTIONS OF
THIS OFFER NULL AND VOID, INCLUDING, BUT NOT LIMITED TO, THE
RETURN TO DAVID AND WAYNE TURNBULL OF THE $1,000.00 EARNEST
MONEY DEPOSIT.
City of Fayetteville:
a municipal corporation
Dan Goody, Mayor
WITNESS:
ati� 4 c&
Sondra mith, City Clerk
BUYERS:
David Turnbull
Sf? rurnbull
Date: S/y/°7
Date:
.5/i9/a'
Date: SH/05/
Date. 4 -/4 =cO¢
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Title: Sale of 3.26 Ac Industrial Land to David & Wayne Turnbull
City of Fayetteville, Arkansas
Budget Adjustment Form
Budget Year
2004
Department: General Government
Division: Miscellaneous
Program: Miscellaneous
Date Requested
5/18/2004
Adjustment Number
Project or Item Requested:
$3,432 is requested in the professional services account
and $30,000 is requested in the Sewer Improvements
account both of which are part of the Industrial Park
Land Sale of Parcel 15WX 3.26 acres.
$35,198 in the Use of Fund Balance account.
Project or Item Deleted:
$68,630 is requested in the Gain/Loss of Assets revenue
account.
Justification of this Increase:
The $3,432 is needed to cover real estate commission
fees related to the sale of the parcel The $30,000 is
needed to construct a sewer main to the property.
There will be $35,198 in additional revenue over
expenses that will be contributed back into General
Fund.
Justification of this Decrease:
The additional revenue will be recognized in General
Fund.
Increase Budget (Decrease Revenue)
Account Name Account Number Amount Project Number
Professional services
Sewer improvements
1010 6600 5314 00 3,432 04031. 1
1010 6600 5815 00 30,000 04031 1
Use of fund balance 1010 0001 4999 99 r
Account Name
35,198
Decrease Budget (Increase Revenue)
Account Number Amount
Gain/loss-sale of assets 1010 0001 4881 02
Project Number
68,630 04031 1
Approval Signatures
Requested By Date
dget Manager
Department Director
C/ ?x 117
Date
Date
S=3 —If
F nance & Internal3'i ices Dire . Date
Mayor
ate
Budget Office Use Only
Type: A B C E
Date of Approval
Posted to General Ledger
Posted to Project Accounting
Entered in Category Log
Initial Date
Initial Date
Initial Date
Initial Date
•
NAME OF FILE:
CROSS REFERENCE:
Resolution No. 71-04
w/Ex. A & Ex. B
Document
•
NOTES:
1
04/22/04
memo to mayor & city council
2
draft resolution
2
05/04/04
Staff
Review
Form
3
06/03/04
Ray Boudreaux
NOTES:
•
CITY COUNCIL AGENDA MEMO
PO 5
City Council makg of May 18, 2004 5/ fO14
Mlinda Item Number 7/_61
Stall Zdus/r�q/'t+y
rat4 bad/
TO: Mayor and City Council
TBRU: Staff Contract Review Committee
FROM: Ray M. Boudreaux, Director, Aviation and Economic Development
DATE: April 22, 2004
SUBJECT: Approval of Sale of 3.26 acres of former parcel 15WX adjacent to
Danaher Tool, to Wayne's Powder Coating, Inc.
RECOMMENDATION: Approve the sale of approximately 3.26 acres to Wayne's
Powder Coating for construction of a powder coating plant for $68,630.00.
BACKGROUND: Wayne_and David Turnbull have signed an offer and acceptance
contract, secured with $1,000.00, to purchase 3.26 acres of land adjacent to Danaher
Tool Company along Morningside Dr. in South Fayetteville. The property is to be
used for the construction of a powder coating plant. The purchase is contingent on
the company receiving a building permit for the project. The company provides
services to Danaher Tool and several other companies in the South Industrial Park.
DISCUSSION: Wayne's Powder Coating was represented by a Broker from
Lindsey and Associates Real Estate Company. Typical fees of 5% were added to
the purchase price for payment of the fees for services provided by the Broker
resulting is a sales price of $21,000.00 per acre.
BUDGET IMPACT: This parcel was developed through a lot split for a previous
purchaser who later decided not to purchase the property. The City will receive
$68,630.00 cash for the property. The City will pay $3,431.50 from the proceeds to
Lindsey and Associates for services associated with the sale The City as the owner
will be responsible to pay for the construction of sewer to serve the property. The
cost of the sewer main will be paid from the proceeds of the sale
Attachments: Offer and Acceptance Contract
Staff Review Form
Aviation and Economic Development Department
Fayetteville Municipal Airport, Drake Field
4500 South School Avenue, Suite F
Fayetteville, Arkansas 72701
Ray M. Boudreaux, Director
• •
RESOLUTION NO.
A RESOLUTION TO APPROVE THE SALE OF A LOT
ENCOMPASSING 3.26 ACRES IN THE SOUTH
INDUSTRIAL PARK TO DAVID AND WAYNE
TURNBULL IN THE AMOUNT OF $68,630.00
AND A BUDGET ADJUSTMENT AS ATTACHED
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 the offer and acceptance contract attached as Exhibit A and authorizes the sale
of parcel 15WX encompassing about 3.26 acres in the South Industrial Park for the
amount of $68,630.00 to David Tumbull and Wayne Turnbull.
Section 2: That the City Council of the City of Fayetteville, Arkansas hereby
approves the budget adjustment to reflect the receipt of the funds as attached as
Exhibit B.
PASSED and APPROVED this the 18`h day of May, 2004.
APPROVED:
SW
By:
DAN COODY, Mayor
ATTEST:
By:
SONDRA SMITH, City Clerk
STA REVIEW FORM - FINANCIAL OBLIGA ON
X AGENDA REQUEST
X CONTRACT REVIEW Sale of Land
GRANT REVIEW Waynes's Powder Coat
For the Fayetteville City Council Meeting of: May 18, 2004
FROM:
Ray M. Boudreaux
Name
Aviation & Economic Development General Government
Division Department
ACTION REQUIRED: Approval of an Offer and Acceptance Contract with David Turnbull and Wayne Turnbull,
partners in a business called Wayne's Powder Coating, PO Box 609, Tontitown, AR, 72770, to sell 3.26 acres
of property owned by the City, a part of parcel 15WX, for the amount of $68,630.00.
Signature of the Mayor required.
COST TO CITY:
Revenue
$68,630.00
Cost of this request
$ Contrib
Category/Project Budget Program Category / Project Name
1010.0001.4881.02 $ - General Fund Revenue
Account Number
Funds Used to Date Program / Project Category Name
NA $
Project Number
Remaining Balance
General
Fund Name
BUDGET REVIEW:
l -
Budget Manag r
Budgeted Item
Lk 292 '7
Date
X Budget Adjustment Attached
CONTRACT/GRANT/LEASE REVIEW:
Ac..unt'ng Man.•er
to
Date
Cit orne
Date
STAFF RECOMMENDATION:
Department Dir tor
D
Fina ce Internal Services
Chief/'dministrative 0
Date
ett
Date
Mayor
ate
Th1wal/ (01Internal Audttor Date
PuLcn5-3 04
Purchasing Manager
Received in Mayor's Office
Cross Reference:
Previous Ord/Res#:
Orig. Contract Date:
Orig. Contract Number:
New Item:
Date
Date
4/30/2003
917
X Yes
• Staff Review Form - Page 2 •
Description Sale of Land - Wayne's Powdercoat Inc.
Comments:
Budget Manager
P J i / X145 e<pl rc7' ),- e
Izap is air esell peri -r- cuK--
Accounting Manager
tIssitt kaoct dL__ 41 1 incinaoc V uit
o QOPo-c.e a%o-. sib,_ I: Atha
count yt Q V c;� AL.0 Q1¢kda_ i4&.s
City Attorney —J
Purchasing Manager
" LULL atwt, baAtol Lain- 3it) era oo
ADA Coordinator
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Meeting Date May 18, 2004
Reference Comments:
Internal Auditor
Grants Coordinator
FAYETTEI/ILLE
THE CITY OF FAYETTEVILLE, ARKANSAS
City Clerk Division
DEPARTMENTAL CORRESPONDENCE
•
113 West Mountain
Fayetteville, AR 72701
Telephone: (479) 575-8323
To: Ray Boudreaux
Aviation & Economic Development
From: Clarice Buffalohead-Pearman tJ►'E
City Clerk Division
Date: June 3, 2004
Re: Resolution No. 71-04
The City Council passed a resolution, May 18, 2004, approving the sale of a lot in the South Industrial Park
to David and Wayne Turnbull. Attached is a copy the resolution, one of two original of the Offer and
Acceptance Contract and a copy of the budget adjustment for this item.
The resolution with attachments will be recorded in the city clerk's office and microfilmed. If anything
else is needed please let the clerk's office know.
/cbp
attachments
cc: Nancy Smith, Internal Auditor
Barbara Fell, Budget & Research