Panel approves quit claim deed
Beverly Bryant - February 28, 2017 3:42 pm
City Attorney Michael R. Vanderburg presented a request to approve a quit claim deed to the Ponca City Board of Commissioners Monday night.
The quit claim deed would cure a defect which was discovered after the abstract was completed by attorney David Cummings. Cummings was doing a title opinion for 2101 Hall Blvd., where Custom Mechanical Equipment is located.
In 1994, Ponca City Development Authority bought a large tract of land that has now become the West Airport Industrial Park. This land purchase was done to facilitate the construction of roads and public infrastructure that led to what is now the Dorada plant (then Thorn Apple Valley).
Included in the 1994 land purchase was a little more than 6 acres upon which the current Custom Mechanical Equipment, Inc. (CME) building and property sits at 2101 Hall Blvd.
The defect was that PCDA took title in 1994 as a “municipal corporation of the City of Ponca City,” which is clearly incorrect, Vanderburg said. PCDA is a public trust in which the City of Ponca City is the sole beneficiary. PCDA is not a municipal corporation.
PCDA and CME requested that the City authorize the execution of a Quit Claim Deed from the City to PCDA to cure this defect.
CME and PCDA have reached an agreement for CME to purchase the building and land from PCDA and they have been going through all of the various steps necessary to perfect title.
Commissioners unanimously approved the quit claim deed request.