HomeMy WebLinkAbout12-025 Arcadia Property Acquisition
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 1 2 - 025
A RESOLUTION AUTHORIZING FUNDING FOR THE ACQUISITION OF TWO PROPERTIES
RELATED TO THE ARCADIA INTERSECTION IMPROVEMENT PROJECT #11 - 001
Motion By: Soukup Second By: Keeney
WHEREAS, The City of Prior Lake, a Minnesota municipal corpo ration, acting by and through the City
Council, is authorized by law to acquire real estate which is needed for public use or
purpose; and
WHEREAS, The City of Prior Lake, acting cooperatively in conjunction with Scott Council intends to
construct Arcad ia Avenue from Colorado Street to Dakota Street and County Road 21
from Duluth Avenue to Main Avenue, together with associated improvements (“Project”);
and
WHEREAS, The construction of the Project requires the acquisition of two properties identified a s
4570 and 4590 Colorado Street SE, Prior Lake, MN; and
WHEREAS, The City has reached a negotiated agreement for the purchase of each property and the
closing on the properties is imminent.
NOW THEREFORE , BE IT HEREBY RESOLVE D BY THE CITY COUNCI L OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. City staff is hereby authorized to close the transaction with funding authorized in an amount show in the
following table :
Property Purchase Price Estimated Closing Co sts Total
SimmCutt Prope r ty $168,000.00 $2 , 200 .00 $ 1 70 ,200.00
4570 Colorado St. SE
Caswell Property $162,000.00 $ 2 , 500.00 $16 4 ,500.00
4590 Colorado St SE
Total $330,000.00 $ 4 , 7 00.00 $33 4 ,700.00
3. Funding for these acquisitions is within the Project costs and shall be drawn from account
501 - 48372 - 504 .
PASSED AND ADOPTED THIS 5 DAY OF MARCH 201 2 .
th
YES NO
Myser X Myser
Erickson X Erickson
Hedberg Absent Hedberg
Keeney X Keeney
Soukup X Soukup
______________________________
Frank Boyles, City Manager