HomeMy Public PortalAboutAB02-4 Zatica Property PurchaseCITY COUNCIL City Of McCall
AGENDA BILL 216 East Park Street
Number AB 02-4 McCall, ID 83638
Date January 10, 2002
ITEM INFORMATION
SUBJECT:
Original Agenda Date
& Bill No.
Department/Committee/Individual
Initials
Remarks
Resolution 02–1
A
Mayor / Council
P
City Manager
purchase of the former
P
Finance Director/City
Clerk
Jordon Motel site for use as a
R
Deputy City Clerk
parking lot and snow storage
O
Community Development
originator
area
V
Police Chief
A
Public
Works
L
Director of Golf & Parks Operations
COST IMPACT: $33,900 FY02
S
Recreation Director
FUNDING SOURCE:
Airport Manager
10-48-729
Librarian
TIMELINE:
closing scheduled
City Attorney
for January 15
Grant Coordinator
SUMMARY STATEMENT:
On December 13, the Council authorized a purchase offer for the ‘Zatica Property’,
the former Jordon Motel site on First Street. Mr. Zatica accepted the City’s offer to purchase the property for $173,800. Mr. Zatica will carry the note, at 8% interest. The terms of
sale are $1,000 earnest money provided with the offer, $32,900 payable at closing, the balance payable in annual installments of $24,000, beginning on October 15, 2002, and continuing
on each October 15 until the balance and accrued interest is paid in full. Closing is scheduled for January 15.
The property will be used for public parking and snow storage. The property
is currently usable for parking and snow storage, but will be greatly enhanced by well-designed improvements (paving, landscaping, lighting, drainage). As budgets or private partnerships
allow, improvements will be pursued.
Resolution 02–1 memorializes the Council’s intent and authorizes the Mayor to sign all necessary documents. AmeriTitle will be the escrow agent
and is preparing the necessary documents.
RECOMMENDED ACTION:
Adopt Resolution 02–1.
RECORD OF COUNCIL ACTION
Meeting Date
Action
December 13, 2001
Directed staff to present
the purchase offer
January 10, 2002
Approved Consent Agenda