Broken Arrow City Council
Meeting of: 08-16-2016
To: Mayor and City Council
From: Office of the City Attorney
Title:
title
Consideration, discussion, and possible approval of and authorization to execute Resolution No. 936, a Resolution of the Broken Arrow City Council approving and authorizing a Contract for Sale of Real Estate for Real Property located at 201 East Washington Street, in Broken Arrow, Oklahoma 74012, Tulsa County, State of Oklahoma, approved July 5, 2016, by and between Chae Song Ko and Young Eun Ko and the City of Broken Arrow; and authorizing the City of Broken Arrow’s expenditure of the sum of Two Hundred and Ten Thousand Dollars and Zero Cents ($210,000.00) to effect such purchase; as well as reasonable and necessary costs, including closing costs and escrow funds; designating representatives of the City of Broken Arrow, Oklahoma, for purposes of granting certain approvals and executing certain instruments as required under and in connection with said contract for sale of real estate; and containing other provisions relating thereto
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Background:
The City of Broken Arrow has a projected population of 106,708 persons, representing a 31.5% increase from 2000; and
The City of Broken Arrow is projected to grow by 7.7% through 2020; and
The City of Broken Arrow Fire Department is an all hazards department responding to a variety of incidents including fire, emergency medical services, hazards material mitigation and other types of specialized rescue; and
City population will always have an impact on the value of calls and the type of calls a fire department responds to; and
From 2002 through the present time there has been an approximately 94.7% increase in call volume for fire, emergency medical services, hazards material mitigation and rescue services; and
It is projected that the Fire Department’s anticipated run volume will increase 22% by the year 2018; and
The National Fire Protection Association (NFPA) has issued a response time standard for the various types of calls the Fire Department will be dispatched to; and
The Ludwig Study previously approved by the Council has recommended the most logical place for future fire stations.
The location of a fire station in a community directly affects the total response time needed to respond to all hazards presented; and
In support and in consideration of these response times the City of Broken Arrow has entered into an agreement to purchase property located at 201 East Washington for the purposes of building Fire Station No. 7; and
In support of the City of Broken Arrow’s efforts and in the interest of securing the Real Property, on July 5, 2016, the City of Broken Arrow entered into a Contract for Sale of Real Estate with Chae Song Ko and Young Eun Ko the Sellers of the real property. The ;purpose of this acquisition is for a future fire station; and
The Real Property, consists of approximately 2.466 acres; and
The City of Broken Arrow City Council approved a Contract for Sale of Real Estate, on July 5, 2016; and
The Contract-stated a $210,000.00 purchase price of the Real Property is supported by a current fair market value appraisal dated March 11, 2016, and valuing the Real Property at $205,000.00; and
The sum of $1,000.00 was previously paid into escrow and shall serve as a credit toward the purchase price; and
The City Council recognizes that the acquisition of the real property would be of great benefit and in the best interest to the health, safety and welfare of the citizens of the City of Broken Arrow; and
The City Council deems it appropriate to authorize purchase of the Real Property, authorize the expenditure of the sum of $210,000.00 to effect such purchase, ratify the payment of $1,000.00 into escrow, authorize payment of all ancillary costs relating to closing the transaction.
Resolution No. 936 allows for the City of Broken Arrow to designate representatives to execute all documents needed to complete the closing of this transaction.
Cost: $1,000.00 Earnest Money
$209,000.00 Land Purchase
$ 5,000.00 Estimated Closing Costs
$215,000.00 Total
Prepared By: Beth Anne Wilkening, City Attorney
Reviewed By: Assistant City Manager -Operations
Fire Department
Finance Department
Approved By: Michael L. Spurgeon, City Manager
Attachments: Resolution No. 936
Recommendation:
Approve Resolution No. 936 and authorize its execution