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File #: 2023-464    Version: 1 Name:
Type: Resolution Status: Passed
File created: 11/30/2023 In control: Board of Directors Workshop Meeting
On agenda: 12/13/2023 Final action: 12/13/2023
Title: Request to Sell 67650 Van Dyke Road, Washington Township, Michigan 48095
Sponsors: William Wolfson
Indexes: General Counsel

Title
Request to Sell 67650 Van Dyke Road, Washington Township, Michigan 48095

Body
Agenda of: December 13, 2023
Item No.: 2023-464
Amount: $985,000.00 less closing costs and brokerage fees

TO: The Honorable
Board of Directors
Great Lakes Water Authority

FROM: Suzanne R. Coffey, P.E.
Chief Executive Officer
Great Lakes Water Authority

DATE: November 30, 2023

RE: Request to Sell 67650 Van Dyke Road, Washington Township, Michigan 48095

MOTION

Upon recommendation and opinion of Suzanne R. Coffey, P.E., Chief Executive Officer, and William M. Wolfson, Chief Administrative and Compliance Officer/Interim General Counsel, the Board of Directors for the Great Lakes Water Authority (GLWA):

1) Approves the sale of 67650 Van Dyke Road, Washington Township, Michigan 48095 (the "Property"), at a purchase price of Nine Hundred Eighty-Five Thousand and 00/100 Dollars ($985,000.00), less closing costs and brokerage fees, to P. Eugene D'Agostini, on behalf of an entity to be formed; and

2) Authorizes the Chief Executive Officer to take such other action as may be necessary to accomplish the intent of this vote, including executing the Purchase Agreement and any closing documents.

JUSTIFICATION

The Property is a vacant parcel. In 2009, the Property was purchased for a total of $985,000 with the intent to build a new pump station.

Pursuant to the Regional Water Supply System Lease and the Master Bond Ordinance, GLWA has the right to sell Leased Water Facilities that are no longer needed or useful in connection with GLWA's operations to support its service to wholesale customers.

By selling the Property, it will be returned to productive use as either residential or commercial facilities.

BUDGET IMPACT

To be determined upon the closing and consultation with Bond counsel.

COMMITTEE REVIEW

This matter was presented to the Legal Committee at its meeting on December 13, 2023. The Legal Committee unanimously recommended that the GL...

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