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Home My WebLink About444478-002Aurora R. Valenti TOMPKINS COUNTY CLERK 320 North Tioga Street Ithaca, NY 14850 607-274-5431 Fax: 607-274-5445 No. of Pages: 3 Receipt No. 4.44478 DATE: 11 /21 /2003 Time: 14:41 Document Type: MISC RECORDS Parties To Transaction: 126 EAST SENECA ST Deed Information Consideration: Transfer Tax: RETT No: INSTRUMENT NUMBER *444478-002* Delivered By: MONROE - TOMPKINS - WATKIN Return To: MONROE -TOMPKINS - WATKINS Mortoaae Information Mortgage Amount: Basic Mtge. Tax: Special Mtge. Tax: Mortgage Serial No.: State of New York Tompkins County Clerk This sheet constitutes the Clerk endorsement required by Section 316-A(5) & Section 319 of the Real Property Law of the State of New York. DO NOT DETACH Tompkins County Clerk 11111111111111111111111111111111111111111111111111111111111 r w REGULAR MEETING OF THE ITHACA TOWN BOARD THURSDAY, OCTOBER 2, 2003 TB RESOLUTION NO. 2003-148: RESOLUTION AUTHORIZING THE EXECUTION OF AN EXTENSION OF THE OPTION AGREEMENT WITH ITHACA TOWERS, LLC FOR THE SALE OF THE FORMER TOWN HALL AT 126 EAST SENECA STREET At a regular meeting of the Town Board of the Town of Ithaca, Tompkins County, New York, held at the Town Hall, at 215 North Tioga Street, Ithaca, New York, in said Town, on October 2, 2003, at 5:30 o'clock p.m., Prevailing Time. The meeting was called to order by Supervisor Valentino, and upon roll being called, the following were PRESENT: Supervisor Catherine Valentino Councilman Thomas Niederkorn Councilwoman Mary Russell Councilman Will Burbank ABSENT: Councilwoman Carolyn Grigorov Councilman David Klein Councilman William Lesser WHEREAS, the Town of Ithaca acquired and renovated the former US Post Office building at 215 North Tioga Street, Ithaca, New York, for use as a Town Hall, is now using the new facilities for its Town Hall and, as a consequence, no longer needs the former Town Hall at 126 East Seneca Street, Ithaca, New York (the "Building") for any Town purpose; and WHEREAS, the Town entered into an option agreement with Cornell University ("Cornell") to sell the Building at an agreed upon price; and WHEREAS, Ithaca Towers, LLC ("Ithaca Towers"), a company affiliated with Ciminelli Development Company, Inc., in essence, acceded to the interests of Cornell in the project for which Cornell was seeking to acquire the Building; and WHEREAS, the option agreement with Cornell expired June 30, 2002; and WHEREAS, Ithaca Towers entered into a new option agreement covering the period July 1, 2002 through June 30, 2003, and a further option agreement covering the period July 1, 2003 through September 30, 2003; and WHEREAS, Ithaca Towers needs another month to determine whether the project involving the Building and parcels of land owned by others may be feasible; and WHEREAS, Ithaca Towers has requested either an extension of its prior option or TB RESOLUTION NO. 2003-148 PAGE 2 the execution of a new option, upon substantially the same terms as the old option; and WHEREAS, because of the pending negotiations related to the Ithaca Towers project, it is unlikely that any other party would enter into a purchase agreement for the Town Hall until the Ithaca Towers negotiations result in a definitive project or abandonment of the project; and WHEREAS, prior to the execution of the option with Cornell the Town made efforts to sell the Building over a period of approximately a year without success; and WHEREAS, Ithaca Towers and the Town Supervisor have negotiated an extension to the previous option agreement pursuant to which Ithaca Towers would be granted an extension of its option to acquire the Building in exchange for certain payments; and WHEREAS, the sale of the Building has been determined to be a "Type I Action" pursuant to the regulations of the New York State Department of Environmental Conservation promulgated pursuant to the State Environmental Quality Review Act and the laws and regulations of the Town of Ithaca, the implementation of which action as proposed, the Town Board has determined, will not result in any significant environmental effects; and WHEREAS, a draft of the option extension agreement has been submitted to this meeting and reviewed by the Town Board; and WHEREAS, it is now desired to approve the execution of such option extension agreement and to authorize the sale of the Building in accordance with the terms of such option extension agreement and the underlying option agreement should Ithaca Towers determine to exercise its option thereunder; NOW, THEREFORE, BE IT RESOLVED by the Town Board of the Town of Ithaca as follows: Section 1. The Town of Ithaca hereby approves the execution by the Town Supervisor of an option extension agreement with Ithaca Towers pursuant to which the option granted to Ithaca Towers to acquire from the Town the premises known generally as 126 East Seneca Street, Ithaca, New York for a purchase price of $315,000 is extended for a period ending October 31, 2003, and pursuant to which Ithaca Towers is credited with certain payments including the $20,000 previously paid by Cornell, the $6,250 previously paid by Ithaca Towers for its prior options, and $384.60 out of the $1884.60 being paid by Ithaca Towers with the option extension agreement, such option extension agreement to be in substantially the form submitted to this meeting with such changes therein as the Town Supervisor with the advice of the Director of Engineering and the Attorney for the Town may approve, her execution of same to be due evidence of such approval. TB RESOLUTION NO. 2003-148 PAGE 3 Section 2. The Town Board of the Town of Ithaca, subject to the contingencies set forth in the previous option agreement and this resolution and other contingencies relating to obtaining necessary approvals including, if a referendum is held, the approval of the voters of the Town of Ithaca, hereby again authorizes the sale of the 126 East Seneca Street property to Ithaca Towers as set forth in such option agreement as amended by the option extension agreement, and further authorizes the undertaking of all of the obligations set forth in said option agreement and option extension agreement, including without limitation, the preparation of a survey, obtaining and delivering all closing papers, and completion of the sale, all of said actions being authorized pursuant to Sections 64 and 220 of the Town Law. Section 3. The officers of the Town, including the Town Supervisor, Director of Engineering, Director of Planning, Town Clerk, and Attorney for the Town are hereby authorized to take such actions as they deem necessary or appropriate to complete the sale of the Building if Ithaca Towers exercises its option and to carry out the intent of this resolution. Section 4. Within 10 days after the adoption of this resolution by the Town Board, the Town Clerk shall, as set forth in Section 90 of the Town Law, post and publish a notice which shall set forth the date of the adoption of this resolution and contain an abstract of this resolution, concisely stating the purpose and effect thereof. Such notice shall specify that such resolution was adopted subject to a permissive referendum. Section 5. This resolution shall take effect immediately, unless a referendum is requested, in which event it shall take effect, if approved at such referendum, upon such approval. Section 6. This resolution is adopted subject to a permissive referendum pursuant to Town Law Sections 64 and 220. The question of adoption of the foregoing resolution was moved by Supervisor Valentino, seconded by Councilman Burbank, and duly put to a vote on a roll call, which resulted as follows: Supervisor Valentino Voting Councilperson Russell Voting Councilperson Niederkorn Voting Councilperson Burbank Voting The resolution was thereupon duly adopted. aye aye aye aye I HEREBY CERTIFY THAT THE FOREGOING IS A TRUE COPY OF A RESOLUTION ADOPTED BY THE TOWN BOARD OF THE TOWN OF ITHACA. TOMPKINS COUNTY, NEW YORK, ON THE_10 DAY OF QXAQ)QC'f' 2001D AND IS THE WHOLE OF THqL E�SA Date Town ClerWftpaty�lerlt