FY2014-30 Authorizing Land Sale #18 and Establishing Terms and Conditions I Introduced by: Borough Manager
2 Requested by: Borough Assembly
3 Drafted by: Resource Management Officer
4 Introduced on: 04/03/2014
5 Amended: 04/03/2014
6 Adopted on: 04/03/2014
7 KODIAK ISLAND BOROUGH
8 RESOLUTION NO. FY2014-30
9
10 A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY
11 AUTHORIZING LAND SALE NUMBER EIGHTEEN AND
12 ESTABLISHING TERMS AND CONDITIONS
13
14 WHEREAS, Kodiak Island Borough Code (KIBC) 18.30.020 requires the Borough Assembly
15 to set the terms and conditions of sale for the disposition of public lands; and
16
17 WHEREAS, the Planning and Zoning Commission has recommended and the Borough
18 Assembly has determined that certain lands are surplus to the Borough's need.
19
20 NOW, THEREFORE, BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND
21 BOROUGH THAT:
22
23 Section 1: The Kodiak Island Borough Assembly, in accordance with Title 18 of the
24 Kodiak Island Borough Code, authorizes the Manager or his designee to offer
25 the following lots for disposal by public outcry auction on May 17, 2014 at 1:00
26 p.m. In the Borough Assembly Chambers:
27 1. Tract A, Raven Hills Subdivision
28 2. Lot 1, Lake Orbin Subdivision
29 3. Lot 2, Lake Orbin Subdivision
30 4. Lot 3A, Russian Creek Subdivision
31 5. Lot 513, Bk. 1, Chiniak Alaska Subdivision
32 6. Lot 5C, Bk. 1, Chiniak Alaska Subdivision
33 7. Proposed Lot 1, Kashevaroff Heights Subdivision
34 8. Proposed Lot 2, Kashevaroff Heights Subdivision
35
36 Section 2: Parcels sold at Land Sale Number Eighteen shall be subject to the following
37 terms and conditions:
38
39 1. The parcels shall be appraised at fair market value as determined by the
40 Borough Assessor and the minimum acceptable bid at the auction shall be
41 the appraised market value.
42
43 2. A deposit of ten percent (10%) of the appraised value will be required to be
44 deposited with the cashier at the auction. The difference between the ten
45 percent (10%) appraised value and ten percent (10%) of the total price bid
46 for the parcel shall be paid to the borough at the time the purchase contract
47 is executed. The deposit shall be verged funds in the form of a cashier's
' 48 check or money order or any form acceptable to the auctioneer as approve
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49 by the Borough Finance Director. No credit card transactions are allowed..
50 The deposit shall be credited to the down payment at the closing of the
51 land sale and kept by the seller should the transaction not be completed as
52 required by this resolution.
53
54 3. The term of the contract for the unpaid balance shall be ten (10) years.
55
56 4. The interest rate on the unpaid balance shall be ten percent (10%).
57
58 5. Payments on the unpaid principal shall be made on a monthly basis. The
59 Borough Finance Department will calculate equal payments amortized
60 monthly, with the uneven payment, if any, being the last payment due. All
61 payments are due beginning thirty (30) days following the date of recording
62 with any additional late penalties calculated pursuant to KIB ordinances.
63 There is no penalty for prepayment of all or part of the deed of trust, but
64 any prepayments shall be credited first to outstanding interest and then
65 principal. Prepayment of the loan is allowed as long as it is made in
66 conjunction with a regular'monthly payment. Prepayments will not affect
67 the amount of the monthly payment but will reduce the loan term
68 accordingly.
69
70 6. The purchaser shall execute a deed of trust for the unpaid balance plus
71 interest to secure payment of the note. The Borough Finance Department
72 shall hold the deed of trust unless the buyer desires it to be held as an
73 escrow account by a third party trustee acceptable to the buyer and seller.
74 In that event, the buyer shall be responsible for all costs associated with
75 the trustee and the escrow account. The time and place of closing will be
76 set by the Borough manager or his agent, but shall be not less than the
77 (10) and not more than twenty (20) working days after the signing of the
78 purchase commitment. The seller and buyer shall evenly split the expense
79 of normal closing and recording fees.
80
81 7. Any remaining unsold parcels shall be offered for sale "over the counter"
82 beginning at 9:00 am on May 28, 2014 at Room #104, Cashier's Office of
83 the Borough Building at 710 Mill Bay Road, Kodiak, on a first-come, first-
84 serve basis. The minimum sales price shall be the appraised value.
85
86 8. Any remaining unsold parcels not disposed of within six (6) months of the
87 sale date shall be withdrawn pending future evaluation and action.
88
89 9. All parcels will be conveyed by Quit Claim Deed subject to easement,
90 reservations, and restrictions of record.
91
92
93
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94 10. Each entity (entity is defined as an unmarried individual, married couple, or
95 a corporation) is limited to the purchase of two lots at the public outcry
96 auction. Any entity wishing to buy more than two lots will be allowed to do
97 so not sooner than May 29, 2014. At that time, any entity may purchase
98 any or all lots offered on a first-come first-serve basis beginning at 9:00 am
99 May 29, 2014 at Room #104, Cashier's Office of the Borough Building at
100 710 Mill Bay Road, Kodiak. The minimum sales price shall be the
101 appraised value.
102
103 11. Special circumstances apply to some properties as follows:
104
105 Parcel #1 (Tract A, Raven Hills Subdivision) is restricted by notes on Plat
106 2004-9. It can be subdivided into no more than three (3) lots subject to
107 ADEC. requirements for septic systems and provisions of potable water as
108 specified in plat note #2, and drive way access for all lots is limited to sixty
109 (60) feet frontage on Monashka Bay Road as indicated in plat note #3.
110 Commercial rock extraction and timber excavation is prohibited on RR-1
111 property.
112
113 Parcels #2 and #3 (Lots 1 & 2, Lake Orbin Subdivision) are restricted to
114 one (1) driveway access per lot (plat note #2 on Plat # 2013-2), must have
115 onsite waste water disposal systems as permitted by ADEC (plat note #3),
116 and cannot be further subdivided resulting in additional lots (plat note#5).
117 ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
118 THIS THIRD DAY OF APRIL, 2074
119
120 KODIAK ISLAN OROU
121
122 j7 �124 ATTEST: Frie Borough Mayor
ayor
125
126
127 ,,�' w ��"�� � „„
128 "
129 Nova M. Javier, MM! l3orough Clerk
Kodiak Isl n orou h, Alaska Resolution No. FY2 14-
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