Resolution No. 142-04

A RESOLUTION AUTHORIZING THE CITY MANAGER TO SIGN CONTRACT AGREEMENTS FOR CONVEYANCE OF LAND TO ACTION CAMPUS LLC AND GJ TECH CENTER LLC

Recitals.

The City owns a parcel of land located at the end of Blue Heron Road. The City received the land as a donation. Pursuant to Resolution 1-88 accepting the land, it is to be used for economic development purposes. GJ Tech Center, LLC (Innovative Textiles) owns a parcel immediately to the west known as Lot 2 of the City Market Subdivision. The City's property and Innovative Textiles' property is being platted together as Blue Heron Lake Industrial Park ("Park"). Action Bindery will be relocating its business to the Park.

The City, IDI and Action Campus LLC have negotiated a contract for the conveyance of a parcel of land to Action Campus LLC for economic development purposes. In order to transfer the land as required by Resolution 1-88, contract agreements for conveyance and the documents referenced in those agreements must be executed.

The Council having duly considered the proposed conveyance to Action Campus LLC, it does hereby authorize the City Manager to sign the contract agreements for conveyance and any additional documents necessary to complete the terms of the agreements and to take action as required for the simultaneous recording of the plat for the Park and conveyance of the real property.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION, COLORADO:

That the City Council finds and determines that the attached contracts are in the public interest and further the interests of the City and therefore the City Manager is hereby authorized and directed to sign the contracts between the City of Grand Junction, IDI, Action Campus LLC and GJ Tech Center.

PASSED and ADOPTED the 15^th day of December 2004.

SIGNED this 23rd day of December 2004.

/s/: Bruce Hill

Bruce Hill, Mayor

Attest:

/s/: Juanita Peterson

Juanita Peterson

Deputy City Clerk