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Requester: Alex Smith Meeting Type: Formal Target Meeting Date: 10/23/2024 Ownership Group/Department: Real Estate Target Section Level 1: County Offices and Departments Target Section Level 2: Real Estate C Number if an Amendment (next in sequence): C-78- Purchase Agreement and Escrow Instructions Action Requested: Approve and execute a Purchase Agreement and Escrow Instructions (PSA) for the purchase of 8.3 acres of real property generally located at 10139 W. Northern Avenue, Glendale, AZ 85307, from MG Sports Complex, LLC, an Arizona limited liability company, and authorize the Chairman to execute all other documents required to complete said transaction, without further Board action provided the terms are in substantial conformance with the PSA and approved by legal counsel. The purchase price is $6,592,527. The property is being purchased for West Valley Animal Care and Control Animal Shelter. This action takes place in Supervisory District 4. Additional Information: The property will be used for West Valley Animal Care and Control Animal Shelter. Escrow will open on the date that a fully executed PSA is delivered to the Escrow Agent and, within ten (10) days of the Effective Date of the Agreement, the County will make the Earnest Money Deposit in the amount of $500,000, which shall be refunded if the County cancels this PSA during the Inspection Period or upon Seller’s default. The Inspection Period is sixty (60) days following full execution of the PSA. Close of escrow shall occur no later than 30 days following the completion of the Inspection Period. The Earnest Money Deposit shall be credited to County toward the purchase price at the close of escrow. Financial Impact: Yes: Expenditure $6,592,527 FUND DEPT UNIT ACTIVITY APPR UNIT OBJ SUB PROGRAM PHASE 441 D470 4713 FACM WVAS 9100 11 WVAS CAPLND $18,000,00 445 D470 4713 FACM WVAS 9100 11 WVAS CAPLND $ 5,300,000 Agenda Item Attachments: Purchase Agreement and Escrow Instructions