Title
RESOLUTION AUTHORIZING A FIRST AMENDMENT TO THE PURCHASE AGREEMENT WITH JAMES D. MCCAULEY TO ACQUIRE CERTAIN REAL PROPERTY IN THE LINCOLN PARK NEIGHBORHOOD FOR $5,000.
Body
CITY PROPOSAL:
WHEREAS, under Resolution No. 24-0268, the city council authorized the purchase of the following described real property in St. Louis County, Minnesota (the "Property") from James D. McCauley for $5,000 (the "Purchase Price"):
Southerly 29 feet of Lot 15, MYERS REARRANGEMENT OF BLOCK 70, DULUTH PROPER SECOND DIVISION
Northerly 27 feet of Lot 10, MYERS REARRANGEMENT OF BLOCK 70, DULUTH PROPER SECOND DIVISION, including 5 feet of adjacent vacated alley
Northerly 25 feet of Lot 14, MYERS REARRANGEMENT OF BLOCK 70, DULUTH PROPER SECOND DIVISION
WHEREAS, the closing for the purchase of the property was to occur by April 30, 2024; however due to title and other issues, the parties need to amend the purchase agreement to: (i) extend the closing to May 31, 2024 and (ii) re-allocate some of the costs associated with the Property.
NOW, THEREFORE, BE IT RESOLVED, that the proper city officials are hereby authorized to enter into a first amendment to purchase agreement, substantially the same as that on file with the office of the City Clerk, with James D. McCauley authorizing the purchase of the Property for the Purchase Agreement, subject to the terms and conditions of that certain purchase agreement authorized under Resolution No. 24-0268, as amended by the first amendment authorized by this resolution; funds to acquire the Property and associated costs shall be paid from Fund 210-030-3132-5441 (special projects, finance, vacant building registration, other services and charges).
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize a first amendment to a purchase agreement (the "First Amendment") with James D. McCauley ("McCauley") to acquire that certain real property described above (the "Property") for $5,000 (the...
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