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Posted: January 25, 2019
Rapid City
Agenda Item Summary

Agenda Item Ref. #: PW012919-09

Agenda Item Title:

Authorize Mayor and Finance Officer to Sign Real Property Purchase Agreement between the City of Rapid City and Just Jones’n LLC for the property at 103 E. Anamosa Street in the amount of: $61,500 and to sign all necessary paperwork to effectuate the sale

Origination Group:
Public Works Committee
Origination Meeting Date:
01/29/2019
Stage 2 Group Name:
City Council
City Council Hearing Date:
02/04/2019
Staff Contact:
Michelle Lashley/Carla Cushman
Location:
103 E Anamosa St
Agenda Item Summary:
Property was purchased to facilitate the reconstruction of Anamosa Street. The project is complete and the property is no longer needed. The property was declared surplus in Resolution No. 2017-084 and the Board of Freeholders appraised the value of the property as $80,000. Staff recommend approval of the purchase agreement and have provided a memo that explains the reasons. UPDATE: Buyers Marcella and Patrick Jones have requested that the property be transferred to their company, Just Jones’n LLC, not to them individually. The agenda item has been updated accordingly, and a copy of the Addendum/Amendment to the Purchase Agreement reflecting this change is attached.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
505 CIP
8910 Streets
Is Funding Budgeted?:
Budgeted

Recommendations:

Origination Recommendation Action:
Approve

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