Broken Arrow City Council
Meeting of: 05/07/2024
Title:
title
Consideration, discussion, and possible approval of and authorization to execute Resolution No. 1578, a Resolution to purchase 0.2250 acres of real property located at 202 West Commercial, Broken Arrow, OK from 222 Investments, LLC for the sum of $232,000.00 with the sum of $5,000.00 in earnest money and designating representatives for signing documents and closing the transaction; Approval and authorization to execute the purchase and sale agreement
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Background:
The City Manager directed staff to negotiate the purchase of 0.2250 acres located at 202 West Commercial for the purpose of providing approximately 20 parking spaces in close proximity to the Rose District. The seller’s agent agreed to sell the property to the City of Broken Arrow for the sum of $232,000.00 with the sum of $5,000.00 down
Cost: $232,000.00
Funding Source: Sales Tax Capital Improvement Fund (STCI)
Requested By: Norman Stephens, Assistant City Manager - Administration
Approved By: City Manager’s Office
Attachments: Plat of Survey and Lot Split exhibit
Oklahoma Real Estate Commission Purchase Agreement
Resolution No. 1578
Recommendation:
recommend
Approve and authorize execution of Resolution No. 1578 and approve and authorize execution of the purchase and sale agreement
end