Vote — approved

Jack Sellers	yes
Thomas Galvin	yes
Bill Gates	yes
Clint Hickman	yes
Steve Gallardo	yes

Ayes: Jack Sellers, Thomas Galvin, Bill Gates, Clint Hickman, Steve Gallardo

Item Text

76. PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS Approve and execute a Purchase Agreement and Escrow Instructions (PSA) for the purchase of real property and improvements located at 450 S. 5th Avenue, Phoenix, from WIC West Lincoln JV, LLC, a Delaware corporation, and authorize the Chairman to execute all other documents required to purchase the property, including a Prospective Purchaser Agreement with the Arizona Department of Environmental Quality, without further Board action provided the terms are in substantial conformance with the PSA and approved by legal counsel. The purchase price is $4,200,000. The property is being purchased for parking, staging, and other County uses. In accordance with A.R.S. 42-17106(B), approve the following amendments to the FY 2024 budget: 1. Increase the expenditure authority for the Non Departmental (D470) County Improvement COP Series 2023 (444) Downtown Facility (DELF) budget by $1,800,000. 2. Decrease the expenditure authority for the Non-Departmental (D470) Non Departmental Grants Fund (249) Non Recurring (NRNP) Contingency (4711) budget by $1,800,000. These actions will have a County-wide net impact of zero and they do not alter the budget constraining the expenditure of local revenues duly adopted by the Board pursuant to A.R.S. 42-17105. This action takes place in Supervisory District 5. (C-78-24-066-X-00)

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