File #: 20-0575    Version: 1 Name: Fourth Amendment to the Purchase and Sale Agreement PSA
Type: Agreements/Contracts Status: Passed
File created: 7/20/2020 In control: City Commission
On agenda: 8/5/2020 Final action: 8/5/2020
Title: MOTION TO AUTHORIZE THE PROPER CITY OFFICIALS TO EXECUTE THE FOURTH AMENDMENT TO THE AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY FOR THE WETLANDS PORTION OF SHERIDAN STREET BUSINESS CENTER, LOCATED ON SHERIDAN STREET AND NW 199 AVENUE, OWNED BY ALEXIS M. BAKER, EDWARD BAKER, II, AND STEPHANIE L. BAKER.
Sponsors: Planning and Economic Development Division Directo, Michael Stamm
Attachments: 1. 1. Proposed Fourth Amendment to the PSA, 2. 2. Third Amendment to PSA, 3. 3. Second Amendment to PSA, 4. 4. First Amendment to PSA, 5. 5. Original PSA, 6. 6. ARF, 7. 7. Sketch and Legal
Title
MOTION TO AUTHORIZE THE PROPER CITY OFFICIALS TO EXECUTE THE FOURTH AMENDMENT TO THE AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY FOR THE WETLANDS PORTION OF SHERIDAN STREET BUSINESS CENTER, LOCATED ON SHERIDAN STREET AND NW 199 AVENUE, OWNED BY ALEXIS M. BAKER, EDWARD BAKER, II, AND STEPHANIE L. BAKER.


Summary Explanation and Background

SUMMARY EXPLANATION AND BACKGROUND:

1. On November 19, 2013, the City Commission authorized the proper City Officials to execute the Agreement for Purchase and Sale of Real Property for the wetlands portion of Sheridan Street Business Center, located on Sheridan Street and NW 199 Avenue, owned by Alexis M. Baker, Edward Baker, II, and Stephanie L. Baker.

2. On December 16, 2015, the City Commission approved the first amendment to the purchase and sale agreement. The First Amendment updated the Seller's address and extends the closing date from December 31, 2015 to June 30, 2017.

3. On June 7, 2017, the City Commission approved the second amendment to the purchase and sale agreement. The second amendment to the purchase and sale agreement extended the closing date from June 30, 2017 to December 31, 2018.

4. On October 3, 2018, the City Commission approved the second amendment to the purchase and sale agreement. The third amendment to the purchase and sale agreement extended the closing date from December 31, 2018 to December 31, 2020.

5. The proposed fourth amendment to this agreement further extends the closing date from December 31, 2020 to December 31, 2021.

6. The extension is necessary in order to allow the property owner sufficient time to obtain the necessary permits for the development of the property.

7. Request Commission to authorize the proper City Officials to execute the fourth Amendment to the Agreement for Purchase and Sale of Real Property for the wetlands portion of Sheridan Street Business Center, located on Sheridan Street and NW 199 Avenue, owned by Alexis M. Baker, Edw...

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