Title
An Ordinance Approving the First Amendment to Real Estate Sale Agreement Between the City of Lee’s Summit, Missouri, and Archview Properties, LLC, for the Sale of City Property at 15 and 25 NW Tudor Road.
(Note: First read by Council on June 21, 2022.)
Body
Issue/Request:
A request by Archview to extend the Approvals Period from September 21, 2022 to December 31, 2022, with two optional 30-business-day extensions, in connection with the sale of surplus property that is owned by the City at 15 and 25 NW Tudor Road.
Key Issues:
Extension of the Approvals Period for an Agreement to sell City surplus property.
Proposed City Council Motion:
I move for adoption of An Ordinance Approving the First Amendment to Real Estate Sale Agreement Between the City of Lee’s Summit, Missouri, and Archview Properties, LLC, for the Sale of City Property at 15 and 25 NW Tudor Road.
Background:
The City holds fee simple title to property located at 15 and 25 NW Tudor Road (the “Property”), which was originally purchased as part of a larger parcel for the purpose of constructing and operating a police and municipal court facility. The Police and Court Facility continues to be operated on the north side of Tudor Road. The Property located on the south side of Tudor Road is no longer needed by the City and therefore can be sold as surplus property pursuant to the general authority as set forth in Section 2.1 of the City Charter and as authorized by Article 6, Section 19(a) of the Missouri Constitution.
The City Council passed Ordinance No. 9337 on February 22, 2022, which approved a Real Estate Sale Agreement between the City and Archview Properties, LLC (“Archview”), for the sale of the Property, which was executed by the parties on February 23, 2022 (the “Agreement”). Archview has requested an extension of the “Approvals Period,” as defined in the Agreement, to expire on December 31, 2022, with two 30-business-day extension periods which may be exercised at the option of A...
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