HomeMy WebLinkAbout14-128 Dakota St Purchase Agmt
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 14-128
A RESOLUTION AUTHORIZING THE PURCHASE OF PROPERTY LOCATED AT 4664 DAKOTA
STREET SE
Motion By: KEENEY Second By: MCGUIRE
WHEREAS, The City of Prior Lake, a Minnesota municipal corporation, 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 has successfully negotiated the purchase of property located at 4664 Dakota Street
SE from a willing seller through a voluntary sale process; and
WHEREAS, The property at 4664 Dakota Street SE has potential to be a downtown redevelopment site in
the future; and
WHEREAS, The city’s amended Tax Increment Financing Redevelopment District 1-1 has budgeted funds
to acquire property, and it has identified this site for possible acquisition.
NOWTHEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1.The recitals set forth above are incorporated herein.
2.The Mayor and City Manager are hereby authorized to enter into a Minnesota Standard Residential
Purchase Agreement and any documents necessary to close the transaction.
3.Funds for this purchase are authorized in an amount of $140,500 plus closing costs, drawn from Tax
Increment Financing account for Redevelopment District 1-1.
PASSED AND ADOPTED THIS 25 DAY OF AUGUST, 2014.
th
VOTE Hedberg Keeney McGuire Morton Soukup
Aye
☒☒☒☐☐
Nay
☐☐☐☐☐
Abstain
☐☐☐☐☐
Absent
☐☐☐☒☒
______________________________
Frank Boyles, City Manager