HomeMy WebLinkAboutResolution No. 151-21 - Purchase Agreement for City owned Property
RESOLUTION
Approving a Purchase Agreement for the Sale of City-Owned Property Located at
255 1st Ave SW.
WHEREAS, the City of Rochester (the “City”) is the owner of property located at 255 1st
Avenue SW, Rochester, MN, legally described as follows:
Unit 1, COMMON INTEREST COMMUNITY NUMBER 340, A
CONDOMINIUM, 255 FIRST AVENUE SW CONDOMINIUM,
Rochester, Minnesota (the “Property”); and
WHEREAS, the City received an offer from Powers Ventures, Inc., a Minnesota
corporation (the “Buyer”) to purchase the Property for $1,400,000; and
WHEREAS, the City and the Buyer desire to enter into a purchase agreement, pursuant
to which the City will convey the Property to the Buyer.
NOW, THERFORE, BE IT RESOLVED by the Common Council of the City of Rochester
that the Council hereby approves the Purchase Agreement in substantially the form
presented to the Council, subject to modifications and addenda that do not alter the
substance of the transaction and that are approved by the Mayor and City Administrator.
BE IT FURTHER RESOLVED that City officials, staff, and consultants are authorized to
take all actions necessary to perform the City’s obligations under the Purchase
Agreement as a whole, including without limitation, execution of any documents to which
the City is a party referenced in or attached to the Purchase Agreement, and any other
documents necessary for the Property to be conveyed by City to the Buyer, all as
described in the Purchase Agreement.
RC110-128-734209.v1
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2021.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2021.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
2
RC110-128-734209.v1