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<br />j <br /> <br />CASE # {., f}. <br /> <br />AUTHORIZE SALE OF CITY OWNED PROPERTY <br />TO <br />GM LAND COMPANY, INC. <br />By: William K. Goodrich, City Attorney <br /> <br />Background: <br />As the Council is aware the City has approved the sale of certain City owned property surrounding the <br />existing City Hall to OM Land Company for residential development and which property is being <br />platted as Meadow. This is all pursuant to the terms of a Real Estate Exchange Agreement whereby the <br />City is exchanging its property for land south of the existing City Hall campus. The Land Exchange <br />Agreement is now agreed by all parties, will be signed and have an effective date of August 22, 2006. A <br />Resolution is necessary for the sale of the City property in order to record the necessary Deed. This is in <br />addition to the Sale Ordinance which has been previously been approved by the Council. Staff would <br />like to have the Resolution now adopted so that the transaction can be finalized. <br /> <br />Enclosure: <br />Proposed Resolution. <br /> <br />Recommendation: <br />Adopt Resolution. <br /> <br />Council Action: <br />Motion to adopt Resolution 06~08- ~ for the sale of following legally described property: <br />See attached Exhibit "An. <br /> <br />Review Checklist: <br />City Administrator <br /> <br />{!(!.' tJ8/ ~;J-I tJ6 <br />