Ordinance 12-42 Purchase Agreement for Acquisition of Lot 75 Bunnells Subdivision

CITY OF HOMER
HOMER, ALASKA
                                                                                                                              City Manager
ORDINANCE 12-42

AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, APPROVING THE PURCHASE AGREEMENT AND APPROPRIATING FUNDS IN THE AMOUNT OF $106,000 FOR THE ACQUISITION OF LOT 75, BUNNELLS SUBDIVISION.

 WHEREAS, The Homer City Council recently adopted Resolution 12-054(A) entitled “A RESOLUTION OF THE CITY COUNCIL OF HOMER, ALASKA, AUTHORIZING THE CITY MANAGER TO PREPARE AND SIGN A PURCHASE OFFER FOR LOT 75, BUNNELLS SUBDIVISION”; and

 WHEREAS, The acquisition of Lot 75 will help to implement both the City of Homer Transportation Plan and the proposed Cruise Ship Dock Passenger Facilities Improvements development plan; and

 WHEREAS, The City Manager and the property owner have negotiated and signed a purchase agreement, a copy of which is attached and incorporated herein; and

 WHEREAS, The City Manager has commissioned a commercial property appraisal and ordered a title report pursuant to the requirements of HCC 18.06.020(c); and

 WHEREAS, The appraised property value is $106,000.00.

 NOW , THEREFORE, BE IT ORDAINED by the City of Homer:

 Section 1. The Homer City Council finds that acquiring this parcel is in the overall public interest and adopts the Purchase Agreement, a copy of which is attached and incorporated herein.

 Section 2. The FY 2012 Operating Budget is hereby amended by appropriating $106,000 for the acquisition of Lot 75, Bunnells Subdivision as follows:

Expenditure:
 Account No. Description Amount
            415-926 (State Leg. Grant) Property Acquisition $66,414.00
 150-392 (Land Reserve Acct.) Property Acquisition $39,586.00

 Section 3. This ordinance is a budget amendment only, is not of a permanent nature, and shall not be codified.

              ENACTED BY THE HOMER CITY COUNCIL this ___ day of ______________, 2012.

 CITY OF HOMER

                                                                         ______________________________
JAMES C. HORNADAY, MAYOR
ATTEST:

______________________________
JO JOHNSON, CMC, CITY CLERK

YES:
NO:
ABSENT:
ABSTAIN:

First Reading:
Public Hearing:
Second reading:
Effective Date:

Reviewed and approved as to form:

______________________________ ______________________________
Walt Wrede, City Manager Thomas F. Klinkner, City Attorney

Date:__________________________¬ Date:__________________________¬