HomeMy WebLinkAboutResolution 2001-062 purchase of the ina road trico facility MARANA RESOLUTION NO. 2001-62
A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF
MARANA, ARIZONA, AUTHORIZING THE TOWN MANAGER TO EXECUTE
ANY AND ALL DOCUMENTS NECESSARY TO EFFECTUATE THE PURCHASE
OF THE TRICO FACILITY LOCATED AT 5100 W. INA ROAD FOR AN AMOUNT
NOT TO EXCEED TWO MILLION NINE HUNDRED THOUSAND DOLLARS,
PLUS ONE HUNDRED TWENTY-ONE THOUSAND DOLLARS FOR FURNITURE,
FIXTURES AND EQUIPMENT, AND EIGHTEEN MONTHS OF RENT
ABATEMENT.
WHEREAS, the Town of Mamna (Town) is in need of land and building to house
machinery, vehicles and equipment and serve as a materials storage yard; and
WHEREAS, Trico Electric Cooperative (Trico) is selling its premises at 5100 W.
Ina Road; and
WHEREAS, the Trico facilities include approximately 15 acres of land and
approximately 31,000 square feet of office/warehouse space; and
WHEREAS, the Town has determined that the Trico premises are ideally suited
for the Town's current and future needs; and
WHEREAS, the Town Council authorized staff to enter into negotiations with
Trico for the purchase of land buildings located at 5100 W. Ina Road; and
WHEREAS, Trico and the Town, through mutual negotiation, have agreed to the
following transaction:
a) Upon closing, Town will deposit two-million nine hundred thousand dollars in
escrow for the purchase of land and buildings;
b) Upon closing, Town will deposit additional one-hundred twenty thousand
dollars in escrow for the purchase of furniture, fixtures and equipment; said
amount to remain in escrow until such time as Trico vacates the premises and
the Town conducts an inventory and assessment of fum/ture, fixtures and
equipment;
c) Town to obtain from Trico furniture, fixtures and equipment valued at
approximately one-hundred twenty one thousand dollars; said value to be
jointly determined by Trico and Town;
d) Town will provide Trico mm-fi'ee use of the premises for a period not to
exceed eighteen months.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of
Marana, Arizona, that the Town Manager is authorized to execute any and all documents
necessary to effectuate the acquisition of the Trico facilities for an mount not to exceed
two million nine hundred thousand dollars, plus one hundred twenty-one thousand dollars
for furniture, fixtures and equipment, and eighteen months of rent abatement.
PASSED AND ADOPTED by the Mayor and Council of the Town of Marana,
Arizona, this 22"a day of May 2001.
~Jro
ATTEST:
~IIIjjiIT%%~
A~P~OVED A~ TO FOPdvI:
Daniel J. Hochuli
As Town Attorney and not personally