HomeMy WebLinkAboutURA RES 2005-02RESOLUTION NO. 2005-2
BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL
AGENCY OF THE CITY OF CALDWELL, IDAHO:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE
URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL,
IDAHO, APPROVING THE PURCHASE OF LOTS 5, 6, 7 & 8,
ORIGINAL TOWNSITE TO CALDWELL, IDAHO, COMMONLY
KNOWN AS 914 ARTHUR STREET AND AUTHORIZING ITS
CHAIRMAN TO EXECUTE CLOSING DOCUMENTS AND
DISPERSE FUNDS FOR THE PURCHASE OF SAID PROPERTY;
PROVIDING FOR AN EFFECTIVE DATE OF THIS RESOLUTION;
AND PROVIDING FOR OTHER MATTERS PROPERLY RELATING
THERETO.
URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL, IDAHO
WHEREAS, the Urban Renewal Agency of the City of Caldwell, Idaho, (herein
referred to as the "Agency"), an independent public body corporate and politic, is an
urban renewal agency created by and existing under the authority of and pursuant to the
Idaho Urban Renewal Law of 1965, being Title 50, Chapter 20, Idaho Code as amended
and supplemented, and possessing revenue allocation financing powers under Title 50,
Chapter 29, Idaho Code, as amended and supplemented (collectively, the "Law"); and
WHEREAS, the Agency is authorized to conduct proceedings and to purchase
property pursuant to the terms and provisions of the Law, for the purposes set forth in the
Agency's PLAN to undertake any urban renewal project under the Law; and
WHEREAS, the City Council of the City of Caldwell, Idaho (the "City"), after
notice duly published, conducted a public hearing on December 21, 1998, on the Urban
Renewal Plan for the Caldwell East Urban Renewal Project (the "Urban Renewal Plan");
and
WHEREAS, following said public hearing, the City Council adopted its
Ordinance No. 2260 on December 21, 1998, approving the Urban Renewal Plan as
amended, and making certain findings; and
WHEREAS, the Agency now desires to acquire land for public purposes;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF THE CITY OF
CALDWELL, IDAHO., TO ACQUIRE THE PROPERTY DESCRIBED HEREIN IN
ACCORDANCE WITH THE TERMS AND CONDITIONS SETFORTH IN THE
PURCHASE AND SALE AGREEMENT DATED JANUARY 24, 2005.
PED by Urban Renewal Agency of the City of Caldwell, Idaho, on
/ 2005. Signed by the Chairman of the Board of Commissioners, and
attested by e Secretary to the Board of Commissioners, on /Y,Gruaru / , 2005.
URBAN RENEWAL AGENCY OF THE
CITY OF CALDWE LL, IDAHO
Chairman, 1§66ard 6f Commissioners
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PURCHASE AND SALE AGREEMENT JULY 2004 EmpoN PAGESOF4
RE -23 COMMERCIAL/INVESTMENT REAL ESTATE
iIS IS A LEGALLY BINDINGCONTRACT.RE ANTHE D SALE AGREEMENT
EING ANYATTACHMENTS. IF
YOU HAVE ANY QUESTIONS, CONSULT YOUR ATTORNEY AND/OR ACCOUNTANT BEFORE SIGNING.
OGPOq IYMIiY
OFFICES:
The Preferred Co.
DATE_ n1/24! Ons
Office Phone# 450.7272
459-1030
E -Mail rick@ricicsweaney.com Other Phone#
Rick Sweaney E -Mail
Phnne it
The Preferred Co.
Office Phone # 458 .]272
E -Mail rir•,I<@rieksweaney.com Other Phone#
E -Mail Phone #
2. BUYER: i Caldwell East Urban Renewal A
(Hereinafter
tease anenc
called "BUYER" to purchase the undersigned SELLER agrees to sell the following described real estate hereinaiter re mad
to ' all
3. PROPERTY ADDRESS AND LEGAL DESCRIPTION: COMMONLY KNOWN AS 014 Arthur St,
Caldwell - City Canyon
described as: Lots 5,8,7 & 8 Original 1 Ownsife to Caldwell, Idaho County,
ID, Zlp 83605 legally
OR Legal Des riptton Attached as addendum #
(Addendum must accompany original offer.)
4. PRICEf 8RMSI Total Purchase Price is One Hundred and Einhfv-Flue Thousand Dollars $_185 ODn
a) $ 5 000 cash down payment, Including Earnest Money deptlsit.
b) $ 1 00 Balance of the purchase price to be pald as follows;
0 Addllloml financial terms are contained in a FINANCING ADDENDUM of same date, attached hereto, signed by both parties.
5. EARNES MONEY: BUYERherebydeposits Five thousand
0 cashIpersonal check 0 cashiers check 0 note (date due): 0 other DOLLARS as Earnest Money evidenced by:
hereby acknowledged. Earnest Mone to be de and a receipt Is
Money posited In a trust account upon acceptance by all parties and shall be by: ® Listing Broker 0
Selling Broker ❑other for the benefit of the parties hereto.
The responsible Broker shall be eth
Herne
6. "NOT APPLICABLE DEFINED:" The letters "n/a, "N/A," "n.a.," and "N.A." as used herein are abbreviations of the term 'not applicable."
Where this agreementuses the term "not applicable or an abbreviation thereof, itshall be evidence that the parties have contemplated certain
facts or 1. conditions and have determined that such facts or conditions do not apply to the agreement or transaction herein.
7. F,ICSIMILE TRANSMISSION: Facsimile or eleclronlc transmisslon of any signed original document, and retransmission of any signed facsimile or
electronic}ranspjisslon shall be the same as delivery Of an original. At the request of either party or -the Closing Agency, the parties will confirm facsimile and
electronic transmitted signatures by signing an original document
6. BUSINPSIDAYS $ HOURS A business day is herein defined as Monday through Friday, 8:00 a.m. to 5:00 p.m. in the local time zone
where the4blijbpt real property is physically located. A business day shall not include any Saturday or Sunday, nor shall a business day
include any legal holiday recognized by the state of Idaho as found in Idaho Code § 73-108. The time in which any act required under this
agreement is ib be performed shall be computed by excluding the date of execution and including the last day. The first day shall be the
day after the date of execution. If the last day is a legal holiday, then the time for performance shall be the next subsequent business day.
9. SEVERABI�.ITY: In the case that any one or more of the provisions contained In this Agreement, or any application thereof, shall be
invalid, illegal I unenforceable in any respect, the validity, legality or unenforceability of the remaining provisions shall not in any way 6a
affected orimpafraid thereby.
10. COUNTERPARTS: This Agreement may be executed in counterparts. Executing an agreement in counterparts shall mean the
signature of two Identical copies Of the same agreement. Each identical copy of an agreement signed in counterparts is deemed to be an
original, and all) identical copies shall together constitute one and the same Instrument.
a d3ECLEReetnaw
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RE -23 COMMERCIAL' P URCHASE AND SAL E AGREE MENT JULY 2004 EOITlo N PAGE 10F4