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RESOLUTION 95-34
RESOLUTION OF THE PRIOR LAKE CITY COUNCIL AUTHORIZING THE TRANSFER
OF CERTAIN REAL PROPERTY OF THE ECONOMIC DEVELOPMENT AUTHORITY TO
THE CITY OF PRIOR LAKE
MOTION BY
SCHENCK
SECONDED BY
SCOTT
RECIT ALS
WHEREAS, the Economic Development Authority, an agency of the City of Prior Lake, was
formed by an enabling resolution of the City Council of the City of Prior Lake,
Resolution No. 89-17 pursuant to Minnesota Statute 469.091; and
WHEREAS, the Economic Development Authority ("EDA") acquired an interest in certain
property located in the City of Prior Lake, Scott County, Minnesota, pursuant to
a Contract for Deed dated August 16, 1993 from Marilyn Adelmann and LeRoy
Adelmann, Co-Conservators of the Conservatorship of Anthony Adelmann,
Conservatee, which Contract for Deed was recorded on December 22, 1993 at
10:35 a.m. as Document No. 327111 in the Scott County Recorder's Office (the
II Contract for Deed "); and
WHEREAS, the purpose of the acquisition of said property was to provide available land for
development and sale in the City of Prior Lake's Business Office Park; and
WHEREAS, the Contract for Deed authorized the EDA to subdivide the property and sell lots
in the subdivided property pursuant to lot releases; and
WHEREAS, the procedure of obtaining of lot releases, transfer deeds, and the closing of said
purchases to developers for business development is cumbersome in that multiple
deeds are required from the contract vendors, the EDA, and subsequently the
City; and
WHEREAS, the ED A and City believe it in its best interests to transfer the Contract for Deed
to the City in order to facilitate the marketing, development and sale of the
Business Office Park property;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOT A, that the City Manager and Mayor are hereby authorized to execute such
documents as are deemed necessary to effectuate the assignment and transfer of the Contract for
Deed property from the EDA to the City of Prior Lake, including, but not limited to, a Quit
Claim Deed and an Assignment of the Contract for Deed.
Passed and adopted this 15 t h day of May, 1995.
( Seal)
YES
Andren X Andren
Greenfield -r Greenfield
Kedrowski AJq&~ll't Kedrowski
Schenck X Schenck
Scott ---X-
S:\SHDA T A \16772G\GRK\RESOLUTI.2
Frank
City 0
NO