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Sponsored by: Hunt <br /> him CITY OF SEWARD, ALASKA <br /> RESOLUTION 2014-059 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, ENTERING INTO A PURCHASE AND SALE AGREEMENT <br /> ("AGREEMENT") BETWEEN THE CITY OF SEWARD AND THE <br /> FRIENDS OF THE JESSE LEE HOME, DISPOSING OF PROPERTY AT <br /> LESS THAN FAIR MARKET VALUE TO A NONPROFIT <br /> CORPORATION, FOR LOTS 15A AND 15B, JESSE LEE HOME <br /> HEIGHTS SUBDIVISION ADDITION NO. 4 ACCORDING TO PLAT 89- <br /> 18, FOR USE AS A PUBLIC EDUCATIONAL AND RESIDENTIAL <br /> BOARDING SCHOOL <br /> WHEREAS, the Seller owns the Jesse Lee Home property ("Property," defined below) <br /> that is the subject of this Agreement; and <br /> WHEREAS, since 2005 the Buyer has been working pursuant to City of Seward <br /> Resolution 2005-01 and City of Seward Resolution 2005-83 to obtain funding for the <br /> rehabilitation and development of the Property as an educational and residential/ boarding <br /> facility; and <br /> £` WHEREAS, Buyer has already coordinated valuable improvements to the Property, <br /> including but not limited to Structural Stabilization, Roof Protection & Repairs, Phase I <br /> Environmental Assessment, Hazmat Study, Surveying, Structural Analysis and Architectural <br /> Design; and <br /> WHEREAS, the property was appraised by MacSwain Associates LLC. in 2011 and the <br /> two parcels were valued at $470,000 for the raw land; and <br /> WHEREAS, since repossessing the property in 2001 the City has paid $264,958 in back <br /> taxes and utility assessments, plus untallied administrative, maintenance and risk control costs; <br /> and <br /> WHEREAS, the assessed value of the property has decreased over time as the property <br /> has deteriorated; and <br /> WHEREAS, Buyer has supported $33,125.51 for the Environmental Study, Hazmat <br /> Study, and survey work and has agreed to provide additional improvements totaling $290,750 as <br /> consideration toward the purchase of the property; and <br /> WHEREAS, the Buyer wishes to acquire, rehabilitate and develop the Property for use <br /> as a public educational and residential/boarding school; and <br /> WHEREAS, the Buyer intends to submit an application to the Kenai Peninsula Borough <br /> School District for a charter school; and <br />