HomeMy WebLinkAboutAuthorize City Manager to sign Closing Documents-Condominium Declaration and Bylaws
REPORT TO: Honorable Mayor and Commission Members
FROM: Jason Shrauger, Fire Chief
Chuck Winn, Assistant City Manager
SUBJECT: Authorize City Manager to sign closing documents for Public Safety
Condominiums, Fire Station Unit.
MEETING DATE: July 13, 2009
RECOMMENDATION: Authorize City Manager to sign closing documents.
BACKGROUND: Pursuant to Section 3 of the Memorandum of Agreement, Joint
Development or Sale of County Land dated October 10, 2007, the city is ready to close on
purchase of condominium unit and associated common elements that comprise Fire Station
Three. The closing is tentatively scheduled for next Friday morning. At the time of closing, a
final payment is due for the purpose of closing on purchasing a portion of the Project Site for
the City of Bozeman and its use as Fire Station Three. Construction of Fire Station Three is
nearly complete and prior to occupancy closing on these documents is required.
FISCAL EFFECTS: If approved, signing the closing documents will release $142,737.64 of Fire
Impact Fee funds, currently held in escrow, for payment of: full interest in the Fire Station unit
and a 71% interest in the general common elements of the Public Safety Condominium.
Going forward, the Condominium Association will split of costs of insurance of the common
elements and common area maintenance on a 50/50 basis. Costs of utilities will be based on
estimated demand to be determined through a subsequent agreement.
ALTERNATIVES: As suggested by the City Commission.
ATTACHMENTS: Land Payment Escrow letter from Chris Gray
Public Safety Condominium Documents
Real Estate Transfer-Gallatin County City of Bozeman-Order No. 1-90029
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Gallatin County Attorney
Marty Lambert,County Attorney
Ms.Peggy Russell
American Land Title
1800 W.Koch
Bozeman,MT 59715
07/08/2009
Judge Guenther Memorial Center
1709 West College,Bozeman,MT 59715
Phone:(406)582-3745
Fax:(406)582-3758
Re:Real Estate Transfer-Gallatin County City of Bozeman-Order No.1-90029
Dear Peggy:
It appears that Gallatin County and the City of Bozeman are ready to close the transaction as
evidenced by your order number above.$142,737.64 has been in your escrow account since
December 17,2008 pursuant to an agreement between the City and County as your file will
reflect.With optimism both the City and County would like to close on the morning of Friday,
July 17 at 9:00 a.m.
Contrary to my last letter to you no other written agreements will be tendered to evidence the
transaction.You have everything pertaining to the sale of property.However,the following will
take place before closing:
1)The Architect will issue a certificate of substantial completion;
2)The County will record the Condominium Declaration and Bylaws for the Public
Safety Condominiums (draft attached);
3)The County will record a Geothermal Heating and Cooling Apparatus and Use
Easement to encumber the neighboring property with the Condominiums system;
4)The County will record amended Open Space Covenants encumbering the
neighboring property.
In addition,the County will present to you the deed to the City for the newly created Fire Station
Unit of the Public Safety Condominiums (draft attached)in order to close.
In accordance with the Agreement,the City of Bozeman will pay all escrow fees.In addition,
the City is to receive all of the interest that has accumulated for the amount held in escrow.It is
anticipated that no title insurance will be issued.
A contact point for the City is Greg,
have any questions.
C:Greg Sullivan
,Bozeman City Attorney.Please contact me if you
ay
.ty County Attorney
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