HomeMy WebLinkAboutResolutions - 2000.05.18 - 26149MAY 18, 2000
MISCELLANEOUS RESOLUTION #00121
BY: PLANNING AND BUILDING COMMITTEE - CHARLES E. PALMER, CHAIRPERSON
In RE: DEPARTMENT OF FACILITIES MANAGEMENT — PURCHASE OF FIVE (5) STORY BUILDING
LOCATED AT 2100 PONTIAC LAKE ROAD, WATERFORD, MICHIGAN 48328
TO: OAKLAND COUNTY BOARD OF COMMISSIONERS
CHAIRPERSON, LADIES, AND GENTLEMEN:
WHEREAS, pursuant to Miscellaneous Resolution No. 4592 dated August 17, 1966, the Oakland
County Board of Supervisors entered into a ninety-nine (99) year Lease Agreement with the Oakland Schools
Intermediate School District for the use of 20 acres of County owned land located on the County's Pontiac
Service Center for the purpose of constructing an Administration Building; and
WHEREAS, on February 16, 1999 the Planning and Building Committee authorized the Department
of Facilities Management to obtain an appraisal of the five (5) story office building located at 2100 Pontiac
Lake Road, Waterford, Michigan for the possible purchase of said building to provide additional needed office
space for County operations; and
WHEREAS, the Planning and Building Committee at is September 23, 1999 meeting authorized the
Departments of Facility Management and Corporation Counsel to negotiate a Purchase Agreement with the
Oakland Schools Intermediate School District for the purchase of the five story administrative office building
located at 2100 Pontiac Lake Road, Waterford, Michigan 48328; and
WHEREAS, on April 6, 2000 an Agreement was reached between the County of Oakland and the
Oakland Schools Intermediate School District to purchase the five story office building located at 2100 Pontiac
Lake Road, Waterford, Michigan 48328 for the purchase price of $6,275,000 — payable according to the
following terms and conditions:
(1) At the end of each one (1) full year after the signing of this Agreement, and up until and
including the end of the third full year after the signing of this Agreement, there shall be
added to the purchase price on a cumulative basis, three and one-half percent of the
purchase price basis for that year. This three and one-half percent is calculated to offset
inflation. The full purchase price for the Premises will be Six Million Nine Hundred Fifty
Seven Thousand Two Hundred Five Dollars ($6,957,205.00) as arrived at pursuant to the
following schedule.
• $6,275,000 Start of lst year
• $6,494,625 Start of 2nd year at 3.5% increase
• $6,721,937 Start of 3rd year at 3.5% increase
• $6,957,205 End of 3rd year at 3.5% increase
(2) If the Seller wishes to Close on the Premises prior to the end of the third year or at any time
during the three year term of this Agreement, then the final payment shall be adjusted and
prorated on the basis of the three and one-half percent factor for the number of days in the
current year that the Seller occupies the Premises.
WHEREAS, the Departments of Facilities Management and Corporation Counsel have reviewed all
the necessary agreements and documents and recommend the purchase of the five story 105,358 square
foot office building located at 2100 Pontiac Lake Road, Waterford, MI 48328 for the purchase price as stated
above.
WHEREAS, the Oakland Schools Board of Education has unanimously approved the Purchase
Agreement and the sale of the building to Oakland County; and
Planning & Bldg. Committee Vote:
Motion carried unanimously on a roll call vote with Amos absent.
- - NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners hereby
approves and agrees to purchase the five story 105,358 square foot office building located at 2100 Pontiac
Lake Road, Waterford Michigan 48328 in accordance with the terms and conditions as set forth in the
Purchase Agreement dated April 6, 2000 between the County of Oakland and the Oakland Schools
Intermediate School District for the purchase amount of $6,275,000 payable according to the following terms
and conditions:
(1) At the end of each one (1) full year after the signing of this Agreement, and up until and including
the end of the third full year after the signing of this Agreement, there shall be added to the
purchase price on a cumulative basis, three and one-half percent of the purchase price basis for
that year. This three and one-half percent is calculated to offset inflation. The full purchase price
for the Premises will be Six Million Nine Hundred Fifty Seven Thousand Two Hundred Five
Dollars ($6,957,205.00) as arrived at pursuant to the following schedule.
• $6,275,000 Start of 1st year
• $6,494,625 Start of 2nd year at 3.5% increase
• $6,721,937 Start of 3rd year at 3.5% increase
• $6,957,205 End of 3rd year at 3.5% increase
(2) If the Seller wishes to Close on the Premises prior to the end of the third year or at any time
during the three year term of this Agreement, then the final payment shall be adjusted and
prorated on the basis of the three and one-half percent factor for the number of days in the
current year that the Seller occupies the Premises.
Upon execution of the Purchase Agreement the County shall pay the Oakland Schools
Intermediate School District a $20,000 deposit as earnest money.
BE IT FURTHER RESOLVED that the Oakland County Board of Commissioners directs its
chairperson or its designee to execute the necessary documents for the purchase of the five story office
building located at 2100 Pontiac Lake Road, Waterford, Michigan 48328.
Chairperson, on behalf of the Planning and Building Committee, I move the adoption of the
foregoing resolution.
PLANNING AND BUILDING COMMITTEE
CHARCE5 E. PALMER
(3)
/Sae
FINANCE COMMITTEE
FISCAL NOTE (Misc. #00121) May 18, 2000
BY: FINANCE COMMITTEE, SUE ANN DOUGLAS, CHAIRPERSON
IN RE: DEPARTMENT OF FACILITIES MANAGEMENT - PURCHASE OF FIVE (5) STORY
BUILDING LOCATED AT 2100 PONTIAC LAKE ROAD, WATERFORD, MICHIGAN 48328
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Chairperson, Ladies and Gentlemen:
Pursuant to Rule XII-C of this Board, the Finance Committee has
reviewed the above referenced resolution and finds:
1. Oakland County reached agreement with the Oakland Schools
Intermediate School District on April 6, 2000 to purchase
the five story office building located at 2100 Pontiac Lake
Road, Waterford, Michigan.
2. The purchase price of $6,275,000 is payable according to
the terms and conditions specified in the Purchase
Agreement, in particular, 3.5% of the purchase price will
be added to the purchase price at the end of each full year
after the signing of the agreement to offset inflation.
3. The full purchase price at the end of the third year after
the signing of the agreement is $6,957,205.
4. A deposit payable to Oakland Schools Intermediate School
District of $20,000 is required and will be charged to a
prepaid expense General Ledger account.
5. This prepaid expense will be relieved when a transfer of
the Designated Fund Balance for Oakland Schools to the
Major Projects Fund is initiated.
FINANCE COMMITTEE VOTE:
Motion carried unanimously on a roll call vote with Obrecht absent.
L Brooks PatterOrk County Executive
E FOREGOING REpl
Date
I IHERr"
Resolution #00121 May 18, 2000
Moved by Palmer supported by Schmid the resolution be adopted.
AYES: Jensen, Law, McCulloch, McPherson, Melton, Millard, Moffitt, Palmer,
Schmid, Sever, Suarez, Taub, Amos, Appel, Causey-Mitchell, Colasanti, Coleman,
Dingeldey, Douglas, Galloway, Garfield, Gregory. (22)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
•••••=1
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, G. William Caddell, Clerk of the County of Oakland, do hereby certify that the
foregoing resolution is a true and accurate copy of a resolution adopted by the
Oakland County Board of Commissioners on May 18, 2000 with the original record
thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and affixed the seal of the
County of Oakland at Pontiac, Michigan this 18 -I day/of May, 2(140.
G. William Caddell, County Clerk