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A Resolution of the Salt Lake County Council Authorizing Execution of a Reinstatement and First Amendment to Real Estate Purchase and Sale Agreement with Salt Lake Valley Habitat For Humanity and Housing Authority of the County of Salt Lake (also known as Housing Connect), and Related Documents
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Description: Salt Lake County owns fee title to several parcels of real property located at approximately 4474 South Main Street, Murray, Utah, identified as Parcel Nos. 21-01-426-001, 21-01-426-002, 21-01-426-003, 21-01-426-006, and 21-01-503-014. The Salt Lake County Council approved Resolution 5698 on February 25, 2020, authorizing the County and Salt Lake Valley Habitat for Humanity, a Utah non-profit corporation and the Housing Authority of the County of Salt Lake, a body corporate and politic, sometimes doing business as Housing Connect to enter into a Real Estate Purchase and Sale Agreement for the County Property. While conducing due diligence, Buyers notified the County of certain issues that need to be addressed. In order to address the identified issues, additional time is needed to allow for the completion of due diligence, and the closing needs to be rescheduled. However, various dates in the Purchase Agreement have passed; therefore, the County and Buyers have determined that it is appropriate to enter into a Reinstatement and First Amendment to Real Estate Purchase and Sale Agreement, which will reinstate and amend the Purchase Agreement.
Requested Action: Approval
Presenter(s): Derrick Sorenson, Real Estate Manager
Time Needed: 10 min
Time Sensitive: No
Specific Time(s): No
Requesting Staff Member: Ina Landry, Administrative Services Department Assistant
Will You be Providing a PowerPoint: No
Please attach the supporting documentation you plan to provide for the packets. Agenda items must be approved by Wednesday at 11:00 am. While not ideal, if PowerPoint presentations are not yet ready, you can submit them by 10 am the Friday morning prior to the COW meeting. Items without documentation may be withheld from consideration for that COW meeting.