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OPTIONS: <br />1. Approve the agreement. ' <br />2. Delay approval of the agreement. <br />RECOMIVIENDATION: Marion County is committed by prior intergovet'nmental <br />agreement and resolution to proceed with sale of a portion of the Senator Blo k to the transit <br />district, and in the event that the Courthouse Sc~uare project does not proceed~to repay the <br />transit district, in effect repurchasing the real property. Execution of the agre~ment at this time <br />allows the parties to proceed with the project, and provides needed cash flow:,; The approval of <br />the agreement should be delayed only if the terms of this proposed agreementlare <br />unacceptable, and further negotiations are needed. , <br />Enclosure: Agreement of Purchase and Sale and Joint Escrow Instructions I <br />cc: Randy Curtis, General Services Director ' <br />Ken Roudybush, County Administrator I <br />David Hartwig, Risk Manager <br />~ <br />~ <br />