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ITEM: RESOLUTION NO. AC2026-01 (AUTHORIZING THE BOARD PRESIDENT OR VICE PRESIDENT, AND BOARD SECRETARY, TO EXECUTE A SPECIAL WARRANTY DEED IN FAVOR OF WELLINGTON PROPERTY OWNER LLC, TOGETHER WITH ALL OTHER DOCUMENTS NECESSARY TO CLOSE ON THE PROPERTY KNOWN AS "K-PARK)
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ACME IMPROVEMENT DISTRICT AUTHORIZING THE BOARD PRESIDENT OR VICE PRESIDENT, AND BOARD SECRETARY, TO EXECUTE A SPECIAL WARRANTY DEED IN FAVOR OF WELLINGTON PROPERTY OWNER LLC, TOGETHER WITH ALL OTHER DOCUMENTS NECESSARY TO CLOSE ON THE PROPERTY KNOWN AS "K-PARK, HAVING PARCEL ID NUMBER 73-42-43-27-05-026-0011, TOGETHER WITH A 3.6+/- ACRE PARCEL LOCATED ADJACENT TO AND SOUTH OF K-PARK, HAVING PARCEL ID NUMBER 73-41-44-24-06-003-0000 AND REFERRED TO AS THE "RIGHT OF WAY PARCEL;" AND PROVIDNG AN EFFECTIVE DATE.
REQUEST: Approval of Resolution No. AC2026-01 authorizing the Board President or Vice President, and Board Secretary, to execute a special warranty deed in favor of Wellington Property Owner LLC, together with all other documents necessary to close on the property known as "K-Park.
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EXPLANATION: Acme Improvement District ("Acme") has entered into a Purchase and Sale Agreement, as amended, with the Related-Ross entity known as Wellington Property Owner LLC for the sale of the K-Park property.
In anticipation of the upcoming closing(s) on the Property, which may occur in two phases, Acme must authorize its Board President or Vice President, and Secretary, to execute all documents necessary to close on the sale of the Property, including, without limitation, executing the Special Warranty Deed and other closing documents (collectively, the "Closing Documents").
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: The proceeds from the closing, which may occur in two phases, will be a minimum of $46,294,853.61.
WELLINGTON FUND...
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