HomeMy WebLinkAboutURA RES 2014-07RESOLUTION NO. 2014-7
RESOLUTION CONFIRMING THE PRINCIPAL AMOUNT AND
EARNED INTEREST IN THE TVCC BUILDING PURCHASE.
WHEREAS, the Purchase and Sale Agreement fiom CP -1 LLC for the building and
improvements on property known as Treasure Valley Community College (TVCC Parcel) was
approved on January 26, 2010 by the Caldwell Urban Renewal Agency;
AND WHEREAS, Pioneer Title set-up the escrow for the TVCC building purchase with the
incorrect principal balance of $6,780,000.00 and interest at 5.074%;
AND WHEREAS, the actual principal amount was $6,000,000 with interest to be earned in the
amount of $780,000;
THEREFORE BE IT HEREBY RESOLVED by the Urban Renewal Agency of the City of
Caldwell to restate to Pioneer Title the actual principal amount of $6,000,000 and the earned
interest of $780,000 and approve the payment of recording fees in the amount of $50.50 to be
paid by the Urban Renewal Agency thereby completing the building purchase.
RECOMMENDED TO CITY COUNCIL BY THE TREASURER OF THE URBAN
RENEWAL AGENCY OF THE CITY OF CALDWELL on this 30°i day of September, 2014.
By �UV
- Trea r'�err '
ATTEST:
Secretary
17 Dl.Y�7s1�C12\�\CI�Cy6�1
RESOLUTION ACCEPTING RESOLUTION 2014-5 FROM THE URBAN RENEWAL
AGENCY TREASURER CONCERNING THE CONFIRMED PRINCIPAL AMOUNT
AND EARNED INTEREST IN THE TVCC BUILDING PURCHASE.
BE IT HEREBY RESOLVED by the Mayor and Council of the City of Caldwell, Idaho,
that the Caldwell City Council has accepted Resolution 2014-7 from the Urban Renewal
Agency Treasurer, E1Jay Waive, confirming the principal amount of $6,000,000 with interest
earned in the amount of $780,000 concerning the purchase of the TVCC building located at
205 South 61" Avenue, Caldwell.
PASSED BY THE COUNCIL of the City of Caldwell, Idaho this 6`h day of October,
2104.
APPROVED BY THE MAYOR of the City of Caldwell, Idaho this 6t" day of October,
2014.
ATTEST: p
City Cler
Appro� �k
By
Mayor