06-27-2018 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL JUNE 27, 2018 problems and ensure the cost is covered by the City, and ensure there is a solution and agreement for dealing with the stormwater. He noted that the $25,000 would still be paid if they close by August 31, 2018. Jeff Nordness, Essence Real Estate Services, stated that Q3 fully intends to purchase the property, but they have done everything they can to make it move forward in time and are waiting for others now. Montour introduced the following resolution and moved its adoption: RESOL UTION NO. 2018-6-140 — A UTHORIZE THE MAYOR/PRESIDENT OF THE EDA TO EXECUTE AN AMENDMENT TO THE PURCHASE AGREEMENT, WHICH INCL UDES EXTENDING THE CONTINGENCY DA TE TO AUGUST 31, 2018, EXTENDING THE CLOSING DATE TO A UGUST 31, 2018 WITH Q3 CONTRACTING, INC. FOR THE SALE OF 53 & 167 SOUTH OWASSO BOULEVARD, WITH THE UNDERSTANDING THAT THE $25,000 FEE WILL STILL BE PAID BY Q3 CONTRACTING, INC. The foregoing resolution was duly seconded by McGraw. Ayes (5). Nays (0). Resolution adopted. SALE OF TWO The City Attorney stated that the closing for both of these leases is supposed CITY -OWNED to happen on June 29, 2018. He reported that the AT&T tower lease sale CELL TOWER would be $252,000 and will be a cash sale. He explained that the other LEASES tower sale price is $660,000, with a down payment of $66,000 and the balance will be paid over nine years with an interest rate of two percent. He explained that at this point he is concerned with the location of the access easements and snaking sure that what is in the documents matches up to where they are supposed to be. He noted that the City Engineer is looking at the easements to make sure what is in the closing documents is how they are supposed to be. He stated the rest of the terms have been reviewed and seen by the Council. The City Attorney stated that the Council should approve the sale of the cell towers to Crown Castle, but any approval is subject to the review by the City Engineer to ensure that the easements are on the southerly and easterly boundaries of the property, and not running through the center of the property. McGraw asked if there were any provisions for late or missed payments. The City Attorney stated there was a section for defaulting and it stated that there was a 90 day cure period and then the City could proceed with taking the property back.