CCP 12-15-1997 - Laserfiche WebLink

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< 1 Memorandum, Sales and Purchase Agreement, Morris Communication Corporation I Page Two December 15,1997 -- In executing this document, the City would be agreeing to provide this property to Morris if a number of conditions are met (Section 3.0, D). Those include: . The development plan being consistent with the City's goals and vision, to be I determined by the City Council at its sole discretion. I . The TIF regulations allowing the City to reimburse itself for all of its costs. . The development providing sufficient TIF in order for the City to reimburse itself for all its costs. I . Agreements being executed between Morris and the City. Has the Purchase Price Been Chane-ed? I The total purchase included in the Agreement remains at $25,250 (Section 3.0, A, 4). When is the ProDosed Closin~ Date? I As soon as possible (Section 3.0, F). How has the Sales and Purchase A!!reement Been Amended? I The current Agreement has been altered significantly. The Agreement was altered in order to address several concerns or changes in the public improvements. I. A change in the location of the stormwater retention ponds necessary as a result of the tJ Fourteenth Street public improvement project. Initially, these were located on Welsh property. Revisions approved by the City Council required the pond to be relocated to I Morris property. As a result, Morris has agreed to donate the land (tax advantage) so that the pond can be located on this property at ill!. cost to the City (Section 3.0, B). I 2. The City will amend its zoning ordinance related to the changes in billboard location and size. The intent of the amendment to the ordinance has not changed from the original I agreement by the City Council (Section 3.0, 1,1). 3. The language regarding the relocation of the remaining billboards has been amended I significantly (Section 3.0, I, 3). Originally, this language was non-specific and called for the changes to be made by mutual consent. Morris has requested that the language be made more specific to each sign. This has been I the item that has caused much of the delay in executing the agreement. Specifically, the Council should note the increase in height to each billboard (Sections 3.0, I, 3, a and b). I The incorporated language is such that it will allow the signs to be raised to the heights identified in the Sales and Purchase Agreement (up to a 10 foot increase to Billboard #3 I and a up to a 20 foot increase to Billboard #4) (Exhibit C). However, it is the slated intent of both parties to work with other parties to try and reduce these increases (Section 3.0, I, 3, b, 4). tilt I