RESOLUTION NO. 119-08

A RESOLUTION RATIFYING THE CREATION OF THE ROOD AVENUE PARKING PLAZA CONDOMINIUMS AND CONTRACT TO SELL

PARKING SPACES IN THE CONDOMINIUM

Recitals.

In June 2008, the actions and documentation to create the Rood Avenue Parking Plaza Condominiums for the parking garage located on Rood Avenue in downtown Grand Junction, Colorado, were completed. The condominium is now of record and sale of the units (parking spaces) may occur.

The City Manager has negotiated a contract for the sale of 114 units to ENIPLA Building Company, LLC, for $1,989,528.00. The City’s obligation to proceed under the terms and conditions of the sales contract are expressly conditioned upon and subject to the formal ratification, confirmation and consent of the City Council.

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

The City, by and through the City Council and the signature of its President, does hereby ratify the actions taken on behalf of the City of Grand Junction for the creation of the Rood Avenue Parking Plaza Condominiums and the terms, covenants, conditions, duties and obligations to be performed by the City in accordance with the documentation completed as well as the contract for sale of units to ENIPLA Building Company, LLC.

PASSED and ADOPTED this 20^th day of August, 2008.

     /s/ Gregg Palmer      

               President of the Council

Attest:

/s/ Stephanie Tuin      

City Clerk