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HomeMy WebLinkAbout3068 Resolution RESOLUTION NO. 3COF A RESOLUTION Rescinding the February 2007 Real Estate Agreement with Michael and Susan Davidson. WHEREAS, the city, in February 2007, sold Lot 2, Short Plat 2003-05, situated at the southwest corner of the intersection of Brown Street and 5`h Avenue, to Michael and Susan Davidson with the condition that an office building of substantial similarity to the office building next door be completed within 18 months of the sale; and WHEREAS, the Davidsons have determined, due to circumstances unanticipated at the time of sale, that they cannot fulfill the construction obligation of the contract of sale; and WHEREAS, both parties (City and Davidsons) prefer to rescind the sale in lieu of other options; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PASCO: Section 1: That the City Council hereby authorizes and directs the City Manager to execute the rescission of Real Estate Purchase and Sale Agreement attached hereto as Exhibit"A." 3 PAS D by the City Council of the City of Pasco this 18th day of February, 2008. Joyce on ayor ATTEST: APPROVED AS TO FORM: "-�GA �0 0�� —t�' _$ Debra L.tfark, eity. Cle Leland B. Kerr, City Attorney