RESOLUTION NO. 53-08

A RESOLUTION AUTHORIZING THE SALE OF REAL PROPERTY LOCATED
AT 238 MAIN STREET, GRAND JUNCTION, COLORADO

RECITALS:

In April of 2007, the City published an RFP for the purchase and development of City-owned property located at 238 Main Street. Western Hospitality, LLC (“Western”) was awarded the bid. Since that time, Western and City staff have worked to negotiate a Purchase Contract for the property, which included an Option Agreement, signed by both parties.

Western has completed the requirements of the Option Agreement and wishes to proceed with purchase of the property. On April 23, 2008, Western presented the City with a Contract to purchase the property, in the amount of $656,250.00. Deputy City Manager, Rich Englehart, accepted and signed the Purchase Contract, subject to ratification of that Contract by City Council.

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

1.  The City-owned property located at 238 Main Street shall be conveyed to Western Hospitality, LLC by general warranty deed for a price of $656,250.00.

2.  All actions heretofore taken by the officers, employees and agents of the City relating to the sale of the property which are consistent with the provisions of the negotiated Contract for the sale of the property and this Resolution are hereby ratified, approved and confirmed.

3.  The officers, employees and agents of the City are hereby authorized and directed to take all actions necessary or appropriate to complete the sale of the described property. Specifically, City staff is directed to effectuate this Resolution and the Contract, including the execution and delivery of the deed and such documents as are necessary to complete the sale.

PASSED and ADOPTED this 19^th day of May, 2008.

             /s/ Gregg Palmer        

             Gregg Palmer, President of the Council

Attest:

/s/ Stephanie Tuin      

Stephanie Tuin, City Clerk