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Narrows council authorizes closing on Gallimore tracts, approves lease amendment
Summary
Council approved an amendment to a lease-purchase agreement reducing the second lease payment by $5,000, approved deed language for two small tracts totaling about 2.02 acres, and authorized the town manager to sign closing documents scheduled for next Monday.
Town staff outlined the scheduled closing on two Gallimore property tracts and asked the council to approve three related actions: amend the lease and real estate lease-purchase agreement to account for a $5,000 reduction in the second lease payment; approve the deed for the two tracts; and authorize the town manager to sign documents to complete the closing.
Staff described the two tracts as roughly 1.935 acres and 0.085 acres. The original lease had two $75,000 lease payments; the amendment reduces the second payment by $5,000 to account for delays in removing personal property during the lease period, staff said. The council moved, seconded and voted to approve the amendment, the deed and the authorization to sign; the motion carried as recorded in the transcript.
Council members expressed satisfaction that the town will gain useful storage space for public works equipment and discussed adding a garage door and securing the building once the property transfer is complete. Staff said Christmas decorations and other items would be moved into the building.
