Wichita Kansas Form 637 2022-2025

Wichita Kansas Form 637: What You Should Know

City Council, is hereby authorized ․ to sell and otherwise dispose of all or a portion of the real estate known as the “Rose Hill Residence” at 1035 SW Rose Hill Drive, Colfax, Kansas, 84920 for an amount of 10,856,084.00, and to use 633,000.00 of this amount (of which approximately 60,000.00 shall be used toward the cost of remediation for the Rose Hill Residence at the Rose Hill Community Center and its immediate neighborhood), to offset the costs of any remediation that would be done. The City of Wichita reserves the right to sell the real estate at any time the City deems necessary. This resolution is made pursuant to Chapter 5, Ordinance No. 1138, adopted pursuant to Ordinance No. 1137, adopted by City Council Ordinance 1244, as amended on June 3, 2018, and the same date is amended herewith by ordinance No. 1313. Ransom Financial Group, LLC, of Omaha, Nebraska (the Deputy Municipal Advisor‥) wishes to sell the Rose Hill Residence, 1035 SW Rose Hill Drive, Colfax, Kansas, 84920 and in connection therewith wishes to use up to 633,000.00 of the city funds in this case to offset the cost of remediation of the Rose Hill Residence at the Rose Hill Community Center and its immediate neighborhood. Ransom Financial Group, LLC, the City of Wichita, the City of Rose Hill, Rose Hill Senior High School, City of Rose Hill Parks and Recreation and the City of Rose Hill Health Education would all agree to all the terms set forth below. If at the time of purchase, the real estate is determined by the City to be unsuitable for the proposed sale or if for any other reason the sale proceeds were not sufficient to make payments, as detailed in the attached terms and conditions of sale, and in the event that at the time of sale a substantial amount of the proceeds are not used for payment of the cost of remediation of the Rose Hill Residence at the Rose Hill Community Center, which is subject to remediation under Ordinance No.

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