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REAL ESTATE PURCHASE AGREEMENT FOR THE LAW ENFORCEMENT TRAINING CENTER, TO BE LOCATED ON THE WICHITA STATE UNIVERSITY INNOVATION CAMPUS
Presented by: Misha Jacob-Warren, Assistant County Counselor
RECOMMENDED ACTION: Approve the Real Estate Purchase Agreement and authorize the Chairman to sign all associated documents.
PUBLIC COMMENT.
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On June 6, 2016, the parties, along with MWCB, LLC (the developer) signed a Letter of Intent memorializing their desire and understanding with regard to the development, construction, and operation of a Law Enforcement Training Center (LETC). In that letter of intent, Sedgwick County (County) and the City of Wichita (City) agreed they would purchase from MWCB a turnkey LETC facility, to be located on the Innovation Campus at Wichita State University. Upon purchase of this turnkey facility, the City and County agreed to assume MWCB's 99-year sublease of the land upon which the LETC will sit at the Innovation Campus.
To date, the Board of Sedgwick County Commissioners has approved an Interlocal Agreement with the City of Wichita for the operations and maintenance of the LETC, once purchased, as well as an agreement with the City of Wichita and the Wichita State Innovation Alliance, agreeing that, contingent upon purchase of the LETC, the County and City will assume the 99-year ground lease.
Under this Real Estate Purchase Agreement, MWCB, LLC agrees to sell, transfer and convey to the County and the City the following: (1) the 99-year sublease of the parcel of land on the Wichita State Innovation Campus upon which the LETC sits; (2) all right, title and interest in and to the building itself; and (3) all furniture, fixtures and equipment attached to, used in connection with or otherwise directly related to the building itself.
Upon completion of the LETC building, the parties will conduct a traditional real estate closing, which will take place on or before the fifteenth (15th) day following the completion of construction, as evidenced by MWCB's receipt of a final certificate of occupancy.
Alternatives: Not approve the Real Estate Purchase Agreement.
Financial Considerations: On May 18, 2016, the Board of Sedgwick County Commissioners approved a budget and CIP Amendment that is, in part, to be used for the purchase of the LETC, for which the County's share is $4,921,189.50. This CIP Amendment increased the original project budget of $2.65 million to $10.85 million. Included in this new total project price is the one-half (1/2) contribution for the purchase from the City of Wichita; the County retains responsibility for the other one-half (1/2) of the purchase, and adequate funding is in place to support the CIP project.
Legal Considerations: The authority for this action is K.S.A. 19-101, fourth, under which the County can make all contracts and do all other acts in relation to the concerns of the County. Approval is by simple majority vote.
Policy Considerations: None.
Outside Attendees: None.
Multimedia Presentation: None.