AGENDA ITEM SUMMARY

Consider approval of Agreement to Purchase Real Estate for N. 6th Street Realignment Project. Property is entire parcel at 722 N. Hill Street, owned by Hani Zaidieh d/b/a "Fast Break Grocery". City Attorney Drew Whalen will address.

Staff recommends and requests Motion to Approve Agreement and directive for Chairperson to execute. Purchase price is $150,000 (total compensation includes land, buildings and other improvements to realty, damages to trade fixtures, and relocation expenses); closing within 30 days of execution of Agreement; Seller shall have the right to continue in possession and occupy the property as an on-going business for a period of four (4) months from date of closing.

Approval is recommended.

$150,000, plus costs of closing, documents and recording fees.