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AI-6303 New Business     C.       
City Manager  
Meeting Date: 04/22/2019  
Windbrooke Property Sales Agreement Amendment
Submitted By: Rob Schommer
Department: City Manager  
Council Committee Review?: Council Work Session
Date(s) of Committee Review: 04/16/2019
Audio-Visual Needs: None
Emergency Legislation?: No
Resolution No.:

Agenda Item Description or Legislation Title
A Resolution Authorizing The City Manager To Enter Into An Amended Real Estate Purchase Contract For The Sale Of Property Known As Windbrooke II.
(first reading)
Purpose and Background
The City currently has an executed agreement for the sale of real property to DEC for Windbrook Phase II.  In that agreement, the total price in the three phases of take down is $1,000,000.  Due to some additional initial investment for repairs to elevations for storm and sanitary lines, it is necessary to divert part of the initial payment upon closing to the next phase in the schedule of payments.  The overall price for the land is not changed, merely the schedule of the initial payment.  This amendment allows for the change and is recommended so the closing can commence.

Fiscal Impact
Source of Funds: N/A
Cost: N/A
Recurring Cost? (Yes/No): N/A
Funds Available in Current Budget? (Yes/No): N/A
Financial Implications:
Exhibit A


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