City Council

AR-1 Letter of Intent to Purchase Property Located at 347 N. Highland Place for the Amount of $2,000,000 from 347 North Highland Place LLC; Authorize City Manager to execute a Purchase and Sale Agreement and other closing documents in form approved by the City Attorney; Approve a Contingency Amount Not to Exceed $100,000 for Additional Fees and Necessary Costs Associated with the Purchase Staff Reference: Dylan Feik, City Manager Recommendation: Approve the proposed Letter of Intent to purchase the property at 347 N. Highland Place, and authorize the City Manager to execute a Purchase and Sale Agreement with 347 North Highland Place LLC for the property at 347 N. Highland Place in an amount not to exceed $2,000,000 in a form approved by the City Attorney, and approve a 5% contingency amount to address necessary costs and fees associated therewith