Title
APPROVAL OF VOLUNTARY ANNEXATION OF PROPERTY OWNED BY THE JOHN G. AXLEY TRUST, WILLIAM C. AXLEY & JULIE A. PAULEY F/K/A JULIE A. AXLEY, TRUSTEES AND THE LILLIAN C. AXLEY TRUST, LILLIAN C. AXLEY, TRUSTEE (AX18-38) - Located at 12300 62nd Street North
Body
NOTE: This is a voluntary annexation of 14.48 acres MOL of contiguous commercial property located at 12300 62nd Street North. The City agrees that annexation of this property is contingent upon the pending sale of the Property in 2019. In the event the Real Estate contract between the Owner and the current Buyer does not close as expected, and upon the City receiving written notice or notification from Owner that such proposed contract for sale is no longer in place, the City agrees that this Annexation Agreement shall become null and void and shall not be binding upon the Owner nor the City. The Owner agrees to keep the City fully apprised of the status of the contract and closing, including the anticipated closing date. The parties agree that for a period of five (5) years from the date of execution of this Agreement, the City agrees to waive a portion of the City land development fees for future redevelopment of the property located at 12300 62nd Street North (08-30-16-70974-300-1600). This waiver of fees shall not exceed Forty Thousand Dollars ($40,000.00) total, will include any variance and-or waiver application fees if applicable, but will not include a waiver of traffic impact fees. The City also agrees that for a period of one (1) year from the date of execution of this Agreement, the City shall waive the City’s Business Tax Receipt fees for all businesses occupying space on the property. The City's annual projected revenue is Thirteen Thousand Eight Hundred Eighty-four Dollars ($13,884.00) and no City funds were expended.
Recommendation
ACTION: (Approve - Deny) The voluntary annexation of 14.48 acres MOL of commercial property owned by the John G. Axley Trust, William C. Axley & J...
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