HomeMy WebLinkAbout2016-087 (90 day extension Armory Building Purchase) RESOLUTV)N NO, 201.6-087
RESOLUTION REQUESTING A 90 DAY TIME EXTENSION FROM THE MAY 3, 2016
DEADLINE FOR SUBMITTAL OF A NOTICE OF INTEREST TO THE DEPARTMENT OF
MILITARY AFFAIRS FOR PURCHASE OF THE ARMORY BUILDING LOCATED AT 107
CHESTNUT STREET BY THE CITY OF STILLWATER
WHEREAS, the City of Stillwater received an offer of sale of the Armory Building
located at 107 Chestnut Street on March 2, 2016 from the State of Minnesota Department of
Military Affairs for an appraised value of$1,200,000; and
WHEREAS,the Department of Military Affairs requested the City of Stillwater provide
a notice of interest in the purchase of the Armory Building by May 3, 2016; and
WHEREAS, the City of Stillwater has been conducting a due diligence analysis
regarding the potential purchase of the Armory Building and that due diligence process is
not yet complete; and
WHEREAS, while the City of Stillwater has a possible interest in purchase of the
Armory Building,no final determination on the City's interest in purchasing the property can
be made until the due diligence analysis is finalized requiring an additional 90 day time
extension.
NOW THEREFORE BE IT RESOLVED, that the City Council of the City of Stillwater
hereby requests a 90 day time extension from the May 3, 2016 deadline for submittal of a
notice of interest to the Department of Military Affairs for the purchase of the Armory
Building at 107 Chestnut Street.
Enacted by the City Council of the City of Stillwater, Minnesota this 19th day of April 2016.
ZeIk7171, •
Ted Kozlowski, Mayor
ATT ST: .
Diane F.Ward, City Clerk