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CASE # ~ <br />CONSIDER LAND EXCHANGE AGREEMENT WITH GM HOMES, INC. <br />REGARDING THE PRESENT CITY HALL CAMPUS SITE <br /> <br /> By: William IC Goodrich, City Attorney <br /> <br />Background: <br /> <br />As the Council is aware, the City has been negotiating a Land Exchange Agreement with GM Land <br />Development, Inc. ("GM") regarding certain property surrounding the current City Hall Campus. <br />On November 22, 2005 the City granted preliminary plat approval to The Meadow Plat which <br />includes the property the City intends to exchange with GM in return for GM conveying certain <br />property to the City. The City Property to be conveyed to GM consists of 10.2177 acres exclusive <br />of street rights of way for The Meadows. The property to be conveyed by GM to the City consists <br />of 8.7684 acres exclusive of street rights of way for The Meadows. In addition to the 8.7684 acres, <br />the City will receive, as Mditional consideration, street construction paid for by GM having an <br />approximate value of $100,000.00, and over sizing of a holding pond sufficient to accommodate the <br />approximate 21.5 acre City Hall site. As of this writing, GM and City Staff have not reached fmal <br />agreement on the terms of the Exchange Agreement but that agreement is expected by Council <br />meeting. Also attached is a proposed Sale Ordinance for Council's consideration. <br /> <br />Enclosure: <br /> <br /> 1. Draft of proposed Land Exchange Agreement. <br /> 2. Map showing the City Property to be conveyed and GM Property to be received by the <br /> City. <br /> 3. Proposed Sale Ordinance by the City. <br />Recommendation: <br /> <br />Approve the Land Exchange Agreement. <br /> <br />Council Action: <br /> <br />Motion to: <br /> 1. <br /> <br />Approve a Land Exchange Agreement with GM Land Company, Inc. upon the terms <br />and conditions of that certain Real Estate Exchange Agreement reviewed by the <br />Council on January 24, 2006, which agreement is subject to fmal approval of City <br />Attorney as to legal form and content. <br />Introduce a Sale Ordinance for the conveyance of the City Property as referenced in <br />the Real Estate Exchange Agreement approved by the City Council on January 24, <br />2006. <br /> <br />Review Checklist: <br /> <br />City Administrator <br />Principal Planner <br /> <br />CC: 01/24/06 <br /> <br />-241- <br /> <br /> <br />