Title
Action on Resolution 20-035, a Resolution Authorizing the Execution of a Real Estate Sale and Purchase Agreement.
Body
Summary:
The City of Brookings received a Hazard Mitigation Grant through the Federal Emergency Management Agency (FEMA) to purchase the property at 659 Faculty Drive located on Lot 17, College Addition. The project will involve removing the structures, installing storm sewer and reshaping the parcel to create added detention. The total project cost is $196,700 and the grant received was for $147,525, which is 75% of the project and the City’s share is $49,175 for 25% of the project cost.
The City will purchase the property at the appraised value of $142,500 and will pay for the closing costs, asbestos abatement, demolition of the structures, disconnecting the utilities and constructing the drainage project.
This resolution will approve authorizing the execution of the Real Estate Sale and Purchase Agreement of 659 Faculty Drive, Brookings.
Recommendation
Recommendation:
Staff recommends approval of the resolution as presented.
Body2
Attachments:
Memo
Resolution
Map