The URL can be used to link to this page

Home My WebLink AboutURA RES 2020-25 RESOLUTION NO. ZOzO-2 5 WHEREAS the Urban Renewal Agency of the City of Caldwell has budgeted to assist with Land acquisition for the Airport; and WHEREAS the subject purchase is expected to be completed by the City and will be duly reimbursed by the Urban Renewal Agency. BE IT HEREBY RESOLVED by the Urban Renewal Agency of the City of Caldwell, Idaho to ratify and approve a Purchase and Sale Agreement for 15.35 Acres adjacent to and Southeast of the Hubler Terminal Building with CPAC,LLC which Purchase and Sale Agreement was previously signed by Mayor Nancolas. This purchase is in the negotiated amount of $1,755,216.75 (based on the appraisal, review appraisal and an administrative settlement compliant with Federal Land Acquisition standards as negotiated by federal land acquisition negotiator,Mr. Larry Rincover). FURTHER to acknowledge that reimbursement will be provided from the Urban Renewal Agency of the City of Caldwell pursuant to their Resolution; and, FURTHER declaring that the anticipated Federal Aviation Administration Airport Improvement Plan reimbursement for the expense shall revenue to the Airport Fund Balance at such time as an Airport Improvement Plan grant reimburses for the same. PASSED BY THE BOARD of the Urban Renewal Agency of the City of Caldwell, Idaho this 7th day of June, 2020. APPROVED BY THE CHAIRMAN of the Urban Renewal Agency of the City of Caldwell, Idaho this 7th day of June,2020. Approved B it" "t '� Cha7'iian ATTEST: HN 1111••• ASic,1 .4% •••••1/14,•••'•, • f! colt PO,t, %p = w • nL City Clerk/Secretary $d • EA d . 1 •% �,,. •...,,,,,....• SCANNED MEMORANDUM JAI TO: The Urban Renewal Board of the URA of the City of cALDWELL Caldwell Meeting Date June 7, 2020 AGENDA ITEM INFORMATION SUBJECT: Department Submittals X to Initials Approve a Resolution Authorizing Purchase and providing for mark Finance X reimbursement on 15.35 Acres owned by CPAC, LLC adjacent to CDBG the Caldwell Industrial Airport Hubler Terminal Building. Clerk City Attorney Human Resources Planning&Zoning Fire Department Police Department Public Works X Street Department Water Department WWTP Engineering Mapping COST IMPACT:: Purchase by the Airport,expenses reimbursed Parks and Recreation by URA FUNDING URA Budget Airport X SOURCE: Information Systems TIMELINE: June 30,2020 Golf Course OTHER X Urban Renewal Agency SUMMARY STATEMENT: The referenced property resides in designated for acquisition in the Caldwell Industrial Airport Master Plan currently in effect. Previous efforts to acquire the property were not agreeable to the owner. This land acquisition is intended to be funded by The Urban Renewal Agency of the City of Caldwell. Reimbursement will be sought under the Airport Improvement Program (AIP) and is currently slated in Caldwell's AIP Capital Improvement Plan for the year 2024 (note that this can be altered as funding is sought by and with the Federal Aviation Administration). Reimbursement will occur after the sunset of the applicable Allocation Area and is here identified by resolution to revenue to the Airport Fund Balance. The Airport Manager and Public Works Director have reviewed the attached resolution and recommend that it be approved. RECOMMENDED ACTION: Approve the attached resolution. PURCHASE AGREEMENT THIS AGREEMENT("Agreement") is made this day of June,2020 between City of Caldwell,through its authorized representatives,herein called the"CITY"and CPAC,LLC, an Idaho limited liability company, herein called"Seller." NOW THEREFORE, for good and sufficient consideration, IT IS AGREED: 1. Sale and Purchase. Seller agrees to sell and CITY agrees to purchase that certain property, together with all improvements, damages, and permanent easements, if any, associated therewith described on Exhibit A attached hereto(the"Property"). 2. Payment. In consideration for the purchase of the Property, CITY shall pay to Seller or Seller's lien holders,if any,the purchase price set out on Exhibit B attached hereto(the "Just Compensation").Just Compensation shall be paid to Seller at Closing upon full execution of this Agreement and Seller's execution and delivery to CITY of a notarized deed and/or easement reflecting the interest being sold(the"Deed"). This Agreement shall become effective after acceptance and execution by the City of Caldwell, it's authorized representative and City Counsel,but such acceptance may not be later than June 15, 2020("Acceptance"). Seller shall be notified and given copies of fully executed and dated documents within two Business Days of Acceptance. The Just Compensation shall be paid in full at Closing. 3. Temporary Access for an Environmental Study. From the effective date ofthis Agreement and continuing through Closing, Grantor authorizes CITY, its agents, and or contractors, access to the Property for the purpose of performing an environmental study. 4. Possession. Upon execution of this Agreement and the payment by City of the Just Compensation and receipt thereof by Seller, Seller shall grant possession of the Property to City at Closing. 5. Contingencies. The parties stipulate and agree that there are no contingencies to the enforceability of this Agreementand that each party is bound by this Agreement. 6. Hazardous Materials. Seller warrants that it has made a full and complete disclosure on attached Exhibit"C"of any and all such conditions or contamination of which Seller has knowledge as of the date of execution ofthis Agreement.Seller further agrees to endorse such disclosure at the time of Closing, updating the disclosure with conditions or contaminations discovered or learned by Seller between the execution of this Agreement and Closing.City acknowledges that Seller is not required to undertake any inspection or investigation of the Property and disclosures are limited to those items of which Seller is aware without any inspection or investigation. City may undertake any reasonable environmental assessment,inspection or investigation. 7. Title Company/Escrow.The parties agree that Pioneer Title located at 610 S Kimball Ave.Caldwell,ID 83605 shall provide the escrow services for this transaction ("Escrow"). The City shall pay for all Escrow and Closing costs and the premium for any title insurance policy it may desire to obtain. 8. Closing. Closing shall occur no later than July 1,2020(the"Closing").If Seller executes and delivers to the Escrow at Closing the appropriate Deed and otherwise performs its duties and obligations pursuant to this Agreement and the City fails to pay the Just Compensation and/or perform its duties and obligations pursuant to this Agreement on or before the Closing,the City's right to purchase or acquire the Property shall terminate and Seller may retain or transfer the Property without liability or obligation to the City. 9. Entire Agreement. The parties have herein set out the whole of their agreement and the terms and conditions have been negotiated in good faith by both parties hereto. CITY's payment of the Just Compensation shall constitute the entire consideration for the sale of the Property and shall relieve CITY from any future claims or obligations on account of the location, grade,and/or construction of the proposed right-of-way,or any other damages of Seller related to CITY's purchase of the Property. 9. Binding Effect. This Agreement shall be binding when executed by the Seller and CITY's authorized representative. IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written. BUYER:CITY OF CALDWELL SELLER:CPAC,LLC,an Idaho Limited Liability Company )1i10dX114410A' By: Garret Nancolas By: Ed Priddy,as manager of JIL Its: Mayor Management Co., LLC,which Nevada LLC is manager of Ranch Management Co., LLC,which Nevada LLC is manager of CPAC,LLC Attest: Debra K. Geyer, City Clerk fi Ii EXHIBIT"A" Street address: 5104 W. Linden Road, Caldwell, Idaho 83605 Legal description of purchased Property(Section 1 of the Agreement): The following legal description is based on a Warranty Deed recorded in Canyon County, Idaho as Instrument No.2011051726. A parcel of land situated in the NE '/ of the NE ''A of Section 36,Township 4 North,Range 3 West, Boise Meridian,Canyon County,Idaho,more particularly described as follows: COMMENCING at the Northeast corner of said Section 36; thence South 00°28'50" West,1183.11 feet along the easterly boundary of said NE 1/4 of the NE %4 to the POINT OF BEGINNING; thence continuing South 00°28'50" West, 138.90 feet along said easterly boundary of the NE '/ of the NE ''A to the Southeast corner of said NE'/ of the NE''A;thence South 89°41'58" West,731.66 feet along the southerly boundary of said NE 'A of the NE Y4 to the northeasterly boundary of Parcel A as shown on Record of Survey Instrument No. 8824213,Records of Canyon County,Idaho;thence North 44°16'22" West, 784.94 feet along said northeasterly boundary to the southeasterly boundary of Parcel 6 as shown on Record of Survey Instrument No.2007010248,Records of Canyon County, Idaho;,thence North 45°44'03" East,624.35 feet along said southeasterly boundary to the most easterly corner of said Parcel 6;thence South 44°16'22"East, 1194.23 feet to the POINT OF BEGINNING. The above described parcel contains 15.35 acres,more or less. EXHIBIT"B" JUST COMPENSATION and APPRAISAL SUMMARY Requirement: 15.35 Acres (668,654d-square feet ofproperty) $ 1,755,216.75 Improvements within requirement: None Total Just Compensation $1,755,216.75 BUYER:CITY OF CALDWELL SELLER:CPAC, LLC,an Idaho Limited Liability Company By: Garret Nancolas By: Ed Priddy,as manager of JIL Its: Mayor Management Co., LLC,which Nevada LLC is manager of Ranch Management Co.,LLC, which Nevada LLC is manager of CPAC, LLC Attest: Debra K. Geyer,City Clerk EXHIBIT"C" Seller's disclosure of hazardous materials: (1) None X (Seller's Initial's); or (2) Seller's disclosure: