| | | | | | | | BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT |
| | | | | | | | Item No. 5.G.
For Meeting of: December 14, 2021 |
| | | | | | | | | ITEM TITLE: | Resolution authorizing the City Manager to sign an Assignment and Assumption Agreement regarding the Purchase and Sale Agreement dated August 6, 2021 between Filer Holdings, LLC and the City of Yakima and ratifying the signatures of the City Manager on all prior documents and amendments associated with the Agreement | | SUBMITTED BY: | Sara Watkins, City Attorney |
| SUMMARY EXPLANATION: | | The City Council previously directed, by unanimous consent, the City Manager to enter into a purchase and sale agreement for property at 101 North 2nd Street and related properties. This resolution assigns the purchase and sale agreement to the holder of the deed, as was revealed in the title report, and ratifies the additional addendums that were entered into after the feasibility period ended. Those addendums include repairs, removal of items from the building before closing, and extension of the closing date. This resolution allowing assignment of the agreement will not change any of those documents. The updated seller will be subject to all of the terms, conditions, benefits, liabilities, obligations and commitments outlined in the agreement and its addendums. This assignment was necessary to correct the name of the limited liability company that holds title to the property. |
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| | | | | | | | | ITEM BUDGETED: | Yes | | STRATEGIC PRIORITY: | NA |
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| | | | | | | | APPROVED FOR SUBMITTAL BY THE CITY MANAGER
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| | | | | | | | | RECOMMENDATION: | | Adopt resolution. |
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