HomeMy Public PortalAboutRES-CC-2016-17CITY OF MOAB RESOLUTION NO. 17-2016
A RESOLUTION APPROVING THE REAL ESTATE PURCHASE AND SALES
AGREEMENT WITH STEWART LANE, LLC, THE ENACTMENT OF COVENANT
DECLARATIONS, AND THE TERMINATION OF AN OPTION AGREEMENT AT
CLOSING, SUBJECT TO CERTAIN CONDITIONS
a. The City of Moab has adopted a Wastewater Treatment Facilities Master Plan
(WTFMP) and has determined that it is necessary to construct a new wastewater treatment
facility on a new site and abandon the existing facility now located at 1070 West 400 North in
the City of Moab.
b. Pursuant to the WTFMP the City has determined that real property currently owned by
Stewart Lane, LLC (Stewart) would be suitable for the construction of a new wastewater
treatment plant.
c. The City and Stewart have negotiated an Real Estate Purchase and Sales Agreement
with Stewart Lane, LLC (the Contract), in which Stewart will convey to the City the real
property needed for a new wastewater treatment plant, and the City will subsequently abandon
and reclaim the old wastewater treatment plant site, subject to a covenant providing that the old
site will be landscaped and utilized in the future as public open space. The Contract was
approved by the City Council at its May 12, 2016 meeting.
d. Pursuant to the Contract the City will take title to the Stewart property for nominal
cost, subject to a covenant and certain deed restrictions. In exchange the City agrees to abandon
the existing wastewater treatment plant, reclaim the site, and dedicate same as open space.
e. The City will engage in certain due diligence acts prior to closing to verify that the
subject property meets City requirements.
f. The City Council has determined that it is in the best interests of the City that the
Mayor is authorized to execute at closing the documents identified, subject to City staff
confirmation that all due diligence conditions have been satisfied.
Now therefore, having convened a duly noticed public meeting of the City Council at
which quorum was present and a majority voting in favor, the City hereby confirms its approval
of the Contract:
1. Real Estate Purchase and Sales Agreement with Stewart Lane, LLC in the form
attached as Exhibit 1.
In addition, the Council authorizes the Mayor to sign and accept on behalf of the City at
closing, subject to City staff verification that all due diligence conditions in the Contract have
been satisfied, the following:
1
2. Declarations of Restrictive Covenant between the City and Stewart Lane, LLC, in
the forms attached as Exhibits 2 and 3;
3. Quit Claim Deed in the form attached as Exhibit 4; and
4. Termination of Option Agreement in the form attached as Exhibit 5.
PASSED AND ADOPTED in open Council by a majority vote of the Governing Body of
the City of Moab this 24th day of May, A.D., 2016.
Thi esolution shill take effect immediately upon passage.
Gj- —ILe
Mayor David Sakrison Date
Attest: 1
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Rachel Stenta, City Reorder
2
Date