Title
An Ordinance approving the Real Estate Sale Agreement between the City of Lee’s Summit, Missouri, and Sexton Properties, LLC for the purchase of property by the City for the Olive and Orchard Capital Improvements Project.
(Note: First read by Council on January 21, 2025. Passed by unanimous vote.)
Body
Issue/Request:
Approval of a Real Estate Sale Agreement between the City of Lee’s Summit, Missouri, and Sexton Properties, LLC for the purchase of property by the City for the Olive and Orchard Capital Improvements Project.
Key Issues:
- The acquisition of land for the Olive and Orchard Capital Improvements Project located at 315 NW Olive Street was identified for stormwater management in support of the project.
- Funding to acquire the subject property was included in the Capital Improvement Plan for the Olive and Orchard Project.
- The City completed an appraisal.
- The City successfully negotiated a purchase price of the property within budget.
Proposed City Council Motion:
I move for approval of an Ordinance approving the Real Estate Sale Agreement between the City of Lee’s Summit, Missouri, and Sexton Properties, LLC for the purchase of property by the City for the Olive and Orchard Capital Improvements Project.
Background:
The design of the Olive and Orchard Capital Improvements Project identified the need for stormwater control measures, i.e. stormwater detention, and the subject property is ideally situated to address those needs. The property will be used for the location of a stormwater detention basin to address stormwater runoff and flooding in the watershed area impacted by the Olive and Orchard Project.
Impact/Analysis:
Acquisition of the property supports stormwater management and flood mitigations for the Olive and Orchard project.
Timeline:
The agreement will take effect immediately upon execution and the City will enter a due diligence period, which may be shortened at the option of the City.
Presenter
Michael Park, Direc...
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