Broken Arrow City Council
Meeting of: 9-19-2017
To: Mayor and City Council
From: Office of the City Attorney
Title:
title
Consideration, discussion, and possible approval of Resolution No. 1057, a Resolution approving and authorizing the execution of an agreement for the purchase and sale of real property located at 2300 South 1st Street, Broken Arrow, Oklahoma, legally described as being a parcel of land situated in the NE ¼ SW ¼ of Section 23, Township 18 North, Range 14 East, Indian Meridian, Tulsa County, Oklahoma including structures and improvements; by and between the City of Broken Arrow and Valor Telecommunications of Oklahoma, LLC., and authorizing the expenditure of $1,080,000.00, to effect purchase, as well as reasonable and necessary costs; designating the Mayor or Vice Mayor, for purposes of granting certain approvals and executing certain instruments as required under and in connection with said agreement for the purchase and sale of real property; and containing other provisions relating thereto
End
Background:
The City approached Valor Telecommunications, LLC. (Seller), with a proposal to purchase an approximate 11.336 acres of real property and improvements owned by the Seller, located at 2300 South 1st Street, Broken Arrow, Oklahoma, legally described as a parcel of land situated in the NE ¼ SW1/4 of Section 23, Township 18 N, Range 14 East, Indian Meridian, Tulsa County, Oklahoma (the “Real Property”) for purposes of purposes of a maintenance center, office space, and a storage facility for sand and salt. The property consists of (per appraisal) 11.336 acres with a single user office-warehouse fenced complex of three buildings totally 25,792 combined square feet with significant concrete and asphalt paving. The Seller has agreed to sell the Real Property identified and both the City and the Seller have determined that the $1,080,000.00 purchase price is reasonable, and is supported by a fair market value appraisal of the Real Property obtained by the City.
Cost: $1,080,000.00 plus all closing costs and any other cost related to
purchase and closing this transaction, utilizing 2014 General
Obligation Proceeds
Prepared By: Beth Anne Childs, City Attorney
Reviewed By: Finance
Streets/Stormwater Director
Assistant City Manager - Administration
Approved By: Michael L. Spurgeon, City Manager
Attachments: Resolution No. 1057
Windstream Agreement
Recommendation: Approve Resolution No. 1057 and authorize its execution