HomeMy WebLinkAboutURA RES 2006-02 RESOLUTION NO.
A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE CITY OF
CALDWELL, IDAHO AUTHORIZING EXECUTION AND PERFORMANCE AS
ASSIGNEE OF AN ASSIGNMENT AGREEMENT WITH PROVIDENCE
DEVELOPMENT GROUP, LLC AND THE CITY OF CALDWELL FOR THE
PURCHASE OF REAL PROPERTY; AND PROVIDING FOR THIS RESOLUTION TO
BE EFFECTIVE UPON ITS PASSAGE AND APPROVAL.
WHEREAS, this Resolution is made on the 1' day of A6 � , 2006 by the
Urban Renewal Agency of the City of Caldwell, Idaho an independent public body corporate and
politic, authorized by the Idaho Urban Renewal Agency Law of 1965, as amended, Chapter 20,
Title 50, Idaho Code, a duly created and functioning Urban Renewal Agency for Caldwell,
Idaho, hereinafter referred to as "URA"; and
WHEREAS, Providence Development Group, LLC has contracted to purchase certain
real property located within the Urban Renewal Area and has agreed to assign such contract
rights to URA and the City of Caldwell (hereinafter referred to as "City"); and
WHEREAS, URA possesses the powers and authority to enter into contracts and acquire
real property; and
WHEREAS, it is consistent with the currently adopted plan for the Caldwell East Urban
Renewal Area to acquire the subject property in conjunction with City.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF THE URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL, IDAHO:
Section 1: The URA hereby authorizes the Chairman to execute the Assignment
Agreement attached hereto as Exhibit"A" and incorporated herein by this reference.
Section 2: The URA authorizes its board and officers to perform the contractual
obligation of assignees, in conjunction with City, as set out in the attached agreement and that
certain RE-24 VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT
AND RECEIPT FOR EARNEST MONEY dated May 4, 2005 and identified by number
00050405.
Section 3: The URA authorizes its board and officers to perform all reasonable and
necessary due diligence in connection with said acquisition.
Section 4: That this Resolution shall be in full force and effect immediately upon its
adoption and approval.
ADOPTED AND APPROVED THIS_day of QI2.A2 , 2006.
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