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Agreement for Sale and Purchase <br />September 12, 2018 <br />Page 12 <br />The proposed contract sets forth the following timeline: <br />■ October 5, 2018: Deadline for approval of the Agreement by both City and County. <br />■ October 15, 2018: City to provide County with a copy of all documents (survey, title <br />insurance, environmental studies from when it purchased the Property back in 2005. <br />• October 19, 2018: City to provide the County with any traffic studies, engineering <br />reports, plans, maintenance or other documents concerning the use of the Property. <br />■ November 5, 2018: Effective date of the Agreement. <br />■ November 5, 2018: Deadline for the County to provide the City with a title <br />commitment listing any liens, easements or other encumbrances on the property. <br />■ November 15, 2018: Deadline for the County to object in writing to the City if the title <br />commitment lists any title defects. The City then has 30 days to cure the defect. If <br />the defect cannot be cured, the County can accept the Property as is or terminate the <br />Agreement and have the deposit money returned. <br />■ December 5, 2018: Deadline for the County to complete its survey and environmental <br />assessment on the Property and report any defects to the City. <br />• December 20, 2018: Deadline for the County to complete appraisals in support of <br />the Purchase Price. <br />■ December 20, 2018: Deadline for the County to complete physical inspection(s) to <br />determine if property is satisfactory to County for its intended uses. <br />• January 20, 2019: Closing on or before this date. <br />If there are any additional terms or conditions that either staff or the Board would like to be <br />included into the Agreement, they should be inserted into the Agreement and included in <br />our response to the City. <br />Funding: Funding for the $2,400,000 purchase is available from a combination of Tourist <br />Tax Fund reserves (119) for $250,000 and Optional Sales Tax Fund reserves (315) for the <br />remaining balance of $2,150,000. <br />Recommendation. Staff recommends the Board review the terms and timeline of the <br />Agreement for Sale and Purchase of the Dodgertown Golf Course Property and direct staff <br />to include any changes to the Agreement and authorize the Chairman to execute the <br />Agreement on behalf of the Board. <br />Copies to: Stan Boling, Community Development Director <br />Richard B. Szpyrka, P.E., Public Works Director <br />Michael Zito, Assistant County Administrator <br />170 <br />