HomeMy WebLinkAbout12-200 Acquire Property at Sunset - CR 12 (Petersen)
4646 Dakota Street SE
Pr ior Lake, MN 55372
RESOLUTION 1 2 - 200
A RESOLUTION APPROVING A REAL ESTATE PURCHASE AGREEMENT WITH THE
MARK C. PETERSEN AND ROSANNE W. PETERSE N
Motion By: Soukup Second By: Hedberg
WHEREAS, The City Council of the City of Prior Lake has been presented with a proposed purchase
agreement between the City as Buyer and Mark C Petersen and Rosanne W. Petersen
as Sellers for the purchase and sale of an 6.4 acres of land located at the southwest
quadrant of County Road 12 and Sunset Avenue an legally described as show n on Ex hibit
A of the purchase agreement ; and
WHEREAS, The City of Prior Lake has been working in cooperation with Scott County and the Prior
Lake Spring Lake Watershed District to obtain funding for the purchase of this property
and the completion of the wetla nd enhancement ; and
WHEREAS, The City of Prior Lake has identified the following funding sources for the wetland
enhancement project :
Funding Source Contribution
City of Prior Lake Water Quality Fund $ 120,000 .00
Prior Lake Spring Lake Watershe d District
Legacy Grant $ 72,000 .00
Prior Lake Spring Lake Watershed District
Capital Improvement $ 80,000 .00
Scott County $ 75,000.00
Total $ 347,000 .00
; and
WHEREAS, The p urchase agreement for the property acquisition includes a cash contribution of
$165,000 as well as the fulfillment of one unit assessment from the Sunset A v enue
Project ; and
WHEREAS, The City will incur closing costs in an approximate amount of $5,000; and
WHERE AS, The City of Prior Lake Planning Commission found the acquisition of this property is in
compliance with the 2030 Comprehensive Land Use Plan; and
WHEREAS, The City of Prior Lake and the Petersen ’ s desire to enter into a Purchase Agreement to
set for th the terms and conditions relating to the purchase of this property .
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. The City Council approves the Pur chase Agreement with the Petersen’s , a copy of which is attached to
the agenda report.
3. The Mayor and City Manager are authorized to execute P urchase A greement with the Petersen’s fo r
the purchase of property at the intersection of Sunset Avenue and County Road 12 and such other
documents as are necessary to consummate the purchase of the property.
4. The City funding source for this purchase shall be the Construction Fund Account # 501 - 48375 - 504 .
5. An interfund loan of $ 205,000 is approved from the Water Quality Fund to the C onstruction Fund until
the proceeds from the Prior Lake Spring Lake Watershed District and Scott County are received.
PASSED AND ADOPTED THIS 10 DAY OF DECEM BER 201 2 .
th
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
K eeney X Keeney
Soukup X Soukup
______________________________
Frank Boyles, City Manager
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