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� 0 . 6 . <br /> ('rrYoF YRESCOTT <br /> COUNCIL AGENDA MEMO <br /> MEETING DATE/TYPE: VOTING MEETING 11-28-17 <br /> DEPARTMENT: Recreation Services <br /> AGENDA ITEM: Adopt Ordinance No. 5054-1594 authorizing the purchase of real <br /> property from Sundog Ranch, a General Partnership for Open Space (City Contract No. <br /> 2018-116) and Adopt Ordinance No. 5055-1595 granting an ingress egress easement <br /> to Sundog Ranch, a General Partnership, for 160.028 acres of real property in the <br /> Granite Dells for Open Space purposes. Funding is available in the budget for Open <br /> Space Acquisition. <br /> FUNDING SOURCE: Open Space Reserve <br /> Approved By: Michael Lamar, City Manager <br /> Item Summary <br /> This item is for consideration of entering into a purchase agreement for 160.028 acres <br /> of real property in the Granite Dells area for the purposes of Open Space and Outdoor <br /> recreation. <br /> Background <br /> At the June 7, 2016 Council meeting Resolution No. 4337-1546 was adopted <br /> committing $3,800,000.00 of fund balance in the Streets Special Revenue Fund for <br /> acquisition of open space, since that time City staff has been working with owners of <br /> properties identified in the 2009 Council approved Open Space plan as desirable for <br /> acquisition. <br /> Storm Ranch North is comprised of approximately 490 +/- Acres and is a sizeable <br /> portion of the acreage that makes up the iconic Granite Dells. Over the last Year City <br /> staff has been negotiating with the owners on purchasing approximately 160 acres of <br /> the ranch in an area contiguous to City owned property in the Dells/Watson Lake area <br /> and along Boulder creek. <br /> The attached draft purchase agreement is the product of recent negotiations and is <br /> subject to review by the seller. Staff is requesting authorization to proceed with the <br /> purchase in a form substantially similar to the draft presented recognizing that there <br /> may be some technical revisions prior to opening escrow and that the City retains the <br /> right to cancel the agreement for any reason during the escrow period .Key points of the <br /> draft purchase agreement include: <br />