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RESOLUTION NO. 97-03 A RESOLUTION OF THE CITY OF MOSCOW, A MUNICIPAL CORPORATION OF THE STATE OF IDAHO, STATING THE CITY'S WILLINGNESS TO ENTER INTO AN AGREEMENT TO PURCHASE THE 1912 MOSCOW HIGH SCHOOL/WHITWORTH BUILDING FROM THE MOSCOW SCHOOL DISTRICT AND STATING THE CONDITIONS UPON WHICH SUCH OPTION TO PURCHASE WILL BE MADE AND OTHER PROVISIONS. WHEREAS, Moscow School District #281 has vacated the 1912 Moscow High School!Whitworth Building (Building) located on Third Street in the City of Moscow across from Moscow High School; and WHEREAS, the City of Moscow desires to study the feasibility of acquisition and renovation of the Building for the purpose of utilizing the Building for enhancement of the Moscow community; and WHEREAS, Moscow School District #281 desires to acqmre real property for construction of a bus garage and warehouse facility; and WHEREAS, the City of Moscow owns property on White Avenue (Exhibit and WHEREAS, the City of Moscow and Moscow School District #281 have requested that an informal market estimate on each of the two properties be conducted to compare the relative values of each; and WHEREAS, the informal estimate shows a disparity in values between the two properties of$136,000.00; and WHEREAS, the City of Moscow has deemed it to be in the public's interest to purchase the Building upon the following terms and conditions contained herein: NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF MOSCOW AS FOLLOWS I. The City of Moscow offers to purchase the Building upon the following terms and conditions a) The purchase will take place on or before February I, 1998. b) The total purchase price of the Building shall be $191,000.00. ---PAGE BREAK--- c) The purchase price will consist of: 1) The property illustrated in Exhibit at its estimated value of $55,000.00. 2) $78,500.00 from private donations to the City for the purpose of purchasing the Building; and 3) $50,000.00 cash and deferred fees from City of Moscow, Idaho; and 4) $7,500.00 credit (in recognition of costs avoided by Moscow School District #281 which would have been incurred if the Building was offered for public sale). f) The City shall pay the balance between the purchase price and the value of the White Avenue property to the School District on or before February I, 1998. 2. All current donations and pledges must be received by the City on or before February 1, 1998. 3. Friends of the Whitworth group will be encouraged by the City to assist with fund raising plans in connection with a financial plan to be developed. 4. The City will work in good faith and with due diligence to realize a proper City use for the Building. 5. In the event that such a use of the Building is deemed unfeasible by the City after conscientious study and effort, the City will offer the Building for sale for the amount of money the City has invested and the City shall attach historic preservation provisions to the Building. Fallowing such a sale and the recovery of the City's costs (including costs of sale), the City would return the donations identified above to the donors from the proceeds of sale 6. In the event that the Building is not purchased within six ( 6) months with the historic preservation provisions, the historic preservation provisions would be removed as a condition of sale and the Building would be offered for sale for the amount of money the City has invested to date (including costs of sale), without condition. Following such a sale and the recovery of the City's costs, including costs of sale, the City would return the donations identified above to the donors from the proceeds of sale. That this offer shall be reduced to an agreement with conditions as set out herein and shall be effective from the date of this Resolution. ---PAGE BREAK--- a PASSED by the City Council and APPROVED by the Mayor this 7 day of April, 1997. Paul C Agidius, ATTEST