HomeMy WebLinkAboutOrd 2016-06ORDINANCE 16-06
AN ORDINANCE OF THE MAYOR AND COUNCIL OF THE TOWN OF
FOUNTAIN HILLS,ARIZONA,AUTHORIZING THE SALE OF REAL
PROPERTY LOCATED AT 11445 N.SAGUARO BOULEVARD.
WHEREAS,the Town of Fountain Hills (the "Town")is the owner of real property
totaling + 1.82 acres,generally located at 11445 N.Saguaro Boulevard,Fountain Hills,Arizona
(the "Property"),as more particularly described and depicted on Exhibit A,attached hereto and
incorporated herein by reference;and
WHEREAS,pursuant to Ariz Rev.Stat.§9-402,the Town may sell property as the
Town's interests may require;and
WHEREAS,the Town had the Property appraised on August 15,2015,by Dennis L.
Lopez and Associates (the "Appraisal"),which appraised value was determined to be
significantly below the limits established in Ariz.Rev.Stat.§9-403.Accordingly,an election
will not be required;and
WHEREAS,the Mayor and Council of the Town of Fountain Hills (the "Town
Council")desires to continue to have the Property used as a Community Theater and,therefore,
intends to condition the sale upon such use (the "Use Condition");and
WHEREAS,the Town Council desires to sell whatever right,title or interest it has in the
Property, subject to the Use Condition. It is the Town Council's intent that the Property will
revert to the Town if the Use Condition is not met.
NOW,THEREFORE,BE IT ORDAINED BY THE MAYOR AND COUNCIL OF
THE TOWN OF FOUNTAIN HILLS as follows:
SECTION 1. The recitals above are hereby incorporated as if fully set forth herein.
SECTION 2. The sale of the Property,subject to the Use Condition,is hereby
authorized.
SECTION 3. The Town Attorney is authorized and directed to prepare an Invitation for
Bids (the "IFB")pursuant to Ariz.Rev.Stat.§ 9-402, and to prepare the appropriate land sale
agreement and related documents (including the necessary reversionary interests) upon notice
from the Town Manager of the successful bid. The IFB shall include, but is not limited to, (i) a
notice of the Use Condition and (ii) a notice of the Town Council's willingness to consider, as
partof anybid, in-kind improvements madeto the Propertyby the bidder.
SECTION 4. The Town Manager is authorized and directed to cause the IFB to be
published andpostedpursuantto Ariz. Rev.Stat.§9-402,andto receiveand evaluate thebids
to determine which is the most advantageous to the Town.
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