MOU_2009-220674.PDF

OFFICIAL RECORDS OF
MARICOPA COUNTY RECORDER
HELEN PURCELL
20090220674 03/12/2009 02:49
ELECTRONIC RECORDING
COB108-6-1-1--
sarabiam
MEMORANDUM OF UNDERSTANDING
BETWEEN
MARICOPA COUNTY
AND THE
CITY OF PHOENIX
REGARDING
THE DISPOSITION OF COUNTY-OWNED REAL PROPERTY
APPROVED BY THE
MARICOPA COUNTY BOARD OF SUPERVISORS
ON
JUNE 18, 2008
C 18-08-058-3-00
DO NOT REMOVE
This is part of the official document

20090220674
Memorandum of Understanding
Between
Maricopa County and City of Phoenix
City Contract No. 124184
County Agenda Item C-18-08-058-3-00
THIS MEMORANDUM OF UNDERSTANDING ("MOU") is entered into as of
theay of June, 2008, by and between MARICOPA COUNTY, a political subdivision
of the State of Arizona (the "County"), and the CITY OF PHOENIX, an Arizona
municipal corporation (the "City").
1. Background. In connection with its development of adjacent property, the
County has requested portions of Madison Street between First and Fifth Avenues
(excluding the intersections of Third, Fourth and Fifth Avenues, with a total area of
approximately 2.39 acres (the "Madison Property"), as depicted in the map attached
hereto as Exhibit "A", incorporated herein by this reference. Due to its location within
the Original Townsite of Phoenix, the City owns the Madison Property in fee and
requires consideration equivalent to the current fair market value of the property to be
conveyed to the County. For such consideration, the County has proposed conveying to
the City the former Thomas J. Pappas School site, comprised of a .96 acre parcel
("Pappas Parcel 1") and a 3.94 acre parcel ("Pappas Parcel 2"), as depicted in the map
attached hereto as Exhibit "B" (collectively, the "Pappas Properties") in exchange for
the Madison Property with possible additional consideration to be provided by the City
(i.e., additional real property, cash or financing) to be determined pursuant to the
negotiation process described herein.
2. Negotiation of Business Terms. The parties both agree to endeavor to
develop mutually acceptable business terms and conditions to be included in an
Intergovernmental Agreement or similar agreement ("IGA") which will be recommended
for approval by the Maricopa County Board of Supervisors and the Phoenix City Council.
3. Appraisal of Real Property. If not already so ordered, within ten (10)
business days following the execution of this MOU, the County will order appraisals of
the Pappas Properties, at the County's sole cost, and the City will order an appraisal of
the Madison Property, at the City's sole cost. The parties acknowledge that other
properties may be considered for the exchange transaction; in such event the party that
owns the property will obtain an appraisal, at its cost, to determine its fair market value.
Each party agrees to provide the other party with a copy of any appraisal obtained
pursuant to this MOU within five (5) business days after receipt.

20090220674
4. Meeting Schedule. Within ten (10) business days after both parties have
received copies of the Pappas Properties appraisal and the Madison Property appraisal,
the parties will schedule an initial meeting and such subsequent meetings as are
reasonably necessary to develop proposed business terms for the IGA.
5. Intergovernmental Agreement. The parties agree that the IGA will be
drafted promptly following agreement by the parties on the business terms and
conditions. The IGA may contain such other provisions deemed necessary or appropriate
as consistent with this MOU and further directions by the Maricopa County Board of
Supervisors or the Phoenix City Council.
6. County and City Approvals. Once the parties have agreed on the business
terms and conditions, each will initiate necessary steps to place the IGA on the agenda for
approval by the County Board of Supervisors and the City Council without undue delay.
7. Implementation of MOU. The parties each agree to work expeditiously to
implement the provisions of this MOU.
8. Representatives and Communications. Communications between the parties
and deliveries pursuant to this IGA shall be directed to the follow individuals:
County: Maricopa County Finance Department
Real Estate Manager
301 West Jefferson Street, Suite 960
Phoenix, Arizona 85003
City: Director
Downtown Development Office
City of Phoenix
200 West Washington Street, 20 th Floor
Phoenix, Arizona 85003-1611
9. Amendments and Termination; Counterparts. This MOU may be amended,
in writing, with concurrence of both parties. Either party may terminate this MOU at any
time upon providing written notice to the other party. This MOU may be executed in
counterparts.
[SIGNATURES FOLLOW ON NEXT PAGE]
JEP:750643v.3 2

20090220674
CITY OF PHOENIX, a municipal corporation
FRANK FAIRBANKS, City Manager
By:
Jo kehan, Director
Downtown Development Office
Acting City Attorney
MARICOPA COUNTY, a political subdivision
of the State of Arizona
By: JUN 30 2008
airman of the Board of Supervisors
JEP:750643v.3 3

20090220674
EXHiT "A"
N NE CITY ( IS PROPE Mfr
JEFFERSON STREET
E
AVENUE AVENUE 67 AVENU 66 65
5th 4th 3rd
60 61 62
JACKSON STREET
Mo= MI.1, r-r Doi-1
I
JEP:750643v.3 4

20090220674
EXH1Z rr " 3 5
NO6
N•NEI Y COUNTY (PA P S°R E Ti ES)
111-39-049
111-39-022A 170,39729.0
111-39-047
FILLMORE STREET
111-41-071A
AVENUE AVENUE
111-41-181
111-41-180 5TH 4TH
111.41-.06.6
111-41-153 J.1741.7.1.164
111-41-152 11141-063
Mml•
111741-151 111-41461
W1,14
11.1741450 111-417059
1114144;
111-41-057
111-41-133 111-41-055
111417053A
11141-132
111417052A
11141-131 111 70-9.5q
111-41-130 11141448
111-41-129 111-41-093 111411045
111741-128 111-41-091
JEP:750643v.3 5