Title
Ordinance No. 686 Authorization the Sale of Certain County-Owned Real Property Located in the Incorporated County of Los Alamos Generally Described as Lot 5C 20th Street to Verdad Real Estate, Inc.
Recommended Action
I introduce, without prejudice, Incorporated County Of Los Alamos Ordinance No. 686; AN ORDINANCE AUTHORIZING THE SALE OF CERTAIN COUNTY-OWNED REAL PROPERTY LOCATED IN THE INCORPORATED COUNTY OF LOS ALAMOS GENERALLY DESCRIBED AS LOT 5C 20TH STREET TO VERDAD REAL ESTATE, INC. and ask staff to assure it is published as provided in the County Charter.
County Manager's Recommendation
The County Manager recommends introduction of this Ordinance as presented.
Body
This Ordinance authorizes the sale of County-owned property identified as Lot 5C located on the southern extension of 20th Street. The parcel sit just west of the Century Link tower building, south of Ashley Pond Park and was the site location of Public Works trailers while LAC was constructing the new Municipal Building.
Lot 5C is approximately 20,000 sqft.
The buyer for this site is Verdad Real Estate, Inc., which is a Texas corporation, Jason Keen is the Principal. Verdad Real Estate, Inc. will enter into a Purchase, Sale and Development Agreement with Los Alamos County.
The Purchase, Sale and Development Agreement (attached to the Ordinance) outlines the details of the development of Lot 5C, which will consist of a freestanding Starbucks coffee franchise store with a drive-thru.
Council is authorized to sell county-owned real property and interests in real property through Chapter 14 of the Los Alamos County, New Mexico - Code of Ordinances. An appraisal dated June 29, 2017 estimated the market value of parcel consisting of Lot 5C to be $355,000. The proposed purchase price for the site is $500,000 and the proposed terms of the sale are outlined within the Purchase, Sale and Development Agreement attached to the Ordinance. The key terms are:
Effective Date: The Ef...
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