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HomeMy Public PortalAboutOrdinance 438 Authorizing the execution of purchase and sale agreement for a portion of the FroDo property TOWN OF FRASER ORDINANCE NO. 438 Series 2017 AN ORDINANCE PROVIDING FOR THE SALE AND CONVEYANCE OF A TRACT OF REAL PROPERTY TO YOUNGS REAL ESTATE CO., LLC WHEREAS, the Town of Fraser is the current owner of the real property described below, located in Fraser, Colorado; and WHEREAS, said property is not being used or held for any governmental purpose by the Town; and WHEREAS, Youngs Real Estate Co., LLC, a Colorado limited liability company, wishes to purchase said property from the Town; and WHEREAS, the Board of Trustees believes that the interests of the Town of Fraser and the public interest would be served by such a sale and conveyance of the property; and NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF FRASER, COLORADO, THAT: SECTION 1. The Board of Trustees hereby finds and determines that the following real property located in the Town of Fraser, County of Grand, and State of Colorado, towit: Lots 14, 15, 16, 17, 18, and all that part of Lot 13 lying Northeasterly of the right of way of U.S. Highway No. 40, Block 7, FIRST ADDITION TO THE TOWN OF EASTOM, TOGETHER WITH that portion of vacated Eastom Avenue, as described in Ordinance No. 275 recorded December 11, 2001, at Reception No. 2001-012436 of the records in the office of the Clerk and Recorder of Grand County, Colorado, located adjacent to the northerly boundary of said Lots 14-18; (the “Subject Property”) is not being used or held for any governmental purpose of the Town of Fraser and may be sold and conveyed by ordinance in accordance with the provisions of C.R.S. 31-15-713. SECTION 2. The Board of Trustees hereby approves and authorizes the sale and conveyance of said Subject Property to Youngs Real Estate Co., LLC, for the sum of $226,700.00 and such additional nonmonetary consideration as may be provided by contract. The Town Manager is authorized to execute a contract for the sale of said Subject Property for said price and subject to such other terms and conditions as may be approved by him; and the Mayor and the Town Clerk are authorized to execute and deliver a deed to convey said Subject Property to Youngs Real Estate Co., LLC, upon the closing of the sale. SECTION 3. The Board of Trustees finds and determines that the sale and conveyance of said real property, as authorized by this Ordinance, is made pursuant to the provisions of C.R.S. 31-15-713, and that all requirements of said statute have been complied with. SECTION 4. The Board of Trustees further finds and determines that this Ordinance is necessary to the immediate preservation of the public health and safety, in order to allow to such sale and conveyance to be accomplished in a timely manner as required by the parties; and this Ordinance shall therefore take effect immediately upon adoption. SECTION 5. PUBLICATION. This Ordinance shall be published [in full] [by title only]. READ, PASSED, ADOPTED AND ORDERED PUBLISHED BY THE BOARD OF TRUSTEES AND SIGNED THIS _____ day of __________________________, 2017. Votes in favor: ____ BOARD OF TRUSTEES OF THE Votes opposed: ____ TOWN OF FRASER, COLORADO Votes abstained: ____ BY: ____________________________ Philip Vandernail, Mayor ATTEST: ( S E A L ) ________________________________ Antoinette McVeigh, Town Clerk Published in the Middle Park Times on ______________.