RESOLUTION NUMBER 93-04 FOR ATRIUM AT CLEARWATER SQUARE
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RESOLUTION NO. 93-4
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF CLEARWATER, FLORIDA, AUTHORIZING THE
EXECUTION OF A SALE-PURCHASE AGREEMENT, INCLUDING THE
ADDENDUM THERETO, BETWEEN THE CITY OF CLEARWATER AND
WALTER T. KRUMM VENTURES, INCORPORATED, OR ASSIGNS, FOR
THE SALE BY THE CITY OF THE PROPERTY COMMONLY KNOWN AS
THE "ATRIUM AT CLEARWATER SQUARE II OR THE "SUN BANK
BUILDING; II AUTHORIZING THE SALE BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE PROPERTY COMMONLY KNOWN AS
THE "PARK STREET GARAGE II PURSUANT TO AN OPTION-TO-
PURCHASE AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT
AGENCY AND WALTER T. KRUMM VENTURES, INCORPORATED, OR
ASSIGNS; APPROVING THE FORM OF THE OPTION-TO-PURCHASE
AGREEMENT AND AUTHORIZING THE EXECUTION, DELIVERY AND
PERFORMANCE OF SAID AGREEMENT IN ACCORDANCE WITH ITS
TERMS; AUTHORIZING THE CONVEYANCE OF AIR RIGHTS ABOVE
THE "PARK STREET GARAGE" TO WALTER T. KRUMM VENTURES,
INCORPORATED, OR ASSIGNS; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Commun ity Redeve 1 opment Agency of the City of Clearwater
desires to sell the property commonly known as the "Park Street Garage in
conjunction with the sale by the City of Clearwater of the property known as
"Atrium at Clearwater Square" or the "Sun Bank Building, II which sale by the City
includes the sale of the upper two floors of the "Park Street Garage;" and
WHEREAS, the City of Clearwater and Walter T. Krumm Ventures, Incorporated,
have entered into a Sale-Purchase Agreement providing for the sale of such
property, and the Community Redevelopment Agency desires to join in such
Agreement and to consummate any transactions contemplated by said Agreement,
including but not limited to the granting of an option to purchase the "Park
Street Garage" and the conveyance of air rights above the "Park Street Garage;"
now therefore,
BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF CLEARWATER, FLORIDA:
Sect i on 1. The Sa 1 e-Purchase Agreement, i nc 1 ud i ng the Addendum thereto and
the exhibits and schedules attached thereto (collectively, the "Agreement"), the
form of which is attached hereto as Exhibit A, between the City of Clearwater as
Se 11 er and Wa lter T. Krumm Ventures, Incorporated, as Purchaser, is hereby
approved to the extent that the Agreement affects the property and obligations
of the Commun i ty Redeve 1 opment Agency. The Cha i rperson and the Execut i ve
Director of the Commun ity Redeve 1 opment Agency are hereby author i zed and directed
to execute the Agreement in substantially the form attached hereto, subject to
the changes set forth in Resolution 93-68 of the City Commission of the City of
Clearwater, and subject to the adoption of said resolution and the execution of
said Agreement by the appropriate officials of the City of Clearwater.
Section 2. The sale of the property commonly known as the "Park Street
Garage" pursuant to the terms of an Option-to-Purchase Agreement between the
Community Redevelopment Agency as Seller and Walter T. Krumm Ventures,
Incorporated, as Buyer, the form of which is attached as Exhibit I to the
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Addendum to Sale-Purchase Agreement between the City of Clearwater and Walter T.
Krumm Ventures, Incorporated, is hereby approved. The Chairperson and the
Executive Director of the Community Redevelopment Agency are hereby authorized
and directed to execute the Option-to-Purchase Agreement in substantially the
form attached hereto. The consummation of any transactions expressly
contemp lated by the Agreement and the Opt ion-to-Purchase Agreement, and the
taking of actions necessarily related to closing and consistent with the terms
of the Agreement and the Option-to-Purchase Agreement, are hereby authorized,
including but not limited to the conveyance of air rights above the "Park Street
Garage" to Walter T. Krumm Ventures, Incorporated, or assigns.
Section 3. This resolution shall take effect immediately .upon adoption.
PASSED AND ADOPTED this 21st day of October, 1993.
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