HomeMy WebLinkAbout5H - L.B.J. Grain Land
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
MEETING DATE:
AGENDA #:
PREPARED BY:
AGENDA ITEM:
DISCUSSION:
ISSUES:
FINANCIAL
IMPACT:
ALTERNATIVES:
RECOMMENDED
MOTION:
CITY COUNCIL AGENDA REPORT
August 15, 2005
5H
KELLY MEYER, ASSISTANT TO THE CITY MANAGER
CONSIDER APPROVAL OF A RESOLUTION AUTHORIZING THE MAYOR
AND CITY MANAGER TO EXECUTE A SHORT FORM PURCHASE
AGREEMENT FOR A 7' X 145' STRIP OF LAND FROM L.B.J. GRAIN
Introduction
This agenda item would authorize a purchase agreement for a 7' wide by 145'
long strip of property so it can be incorporated into the Hastings Avenue sale.
History
Earlier this year, the City solicited proposals to sell the Hastings and Main
Avenue property. At the time we indicated to proposers that if we were
successful in acquiring it, a 7-foot-wide strip would be incorporated in the sale.
Current Circumstances
After doing some research on the 7 -foot strip we believe that it is appropriate for
the City to acquire this land. A short-form purchase agreement has been
prepared and signed by Joe Feldman, a representative of L.B.J. Grain, the owner
of the property.
The negotiated acquisition price is $5,000 plus the City will pay special
assessments in the amount of approximately $1,071.
The acquisition of this land will make the developable land for Hastings and Main
approximately 50' wide by 145' long. More importantly, it will eliminate a "no
man's land" between the existing and new building which better utilizes the land.
The total cost to the City is $6,421 for the property, $1,071 in special
assessments and closing costs estimated at $350. The land, including this strip
has been tentatively sold. These proceeds will reimburse the City's expenditure.
1. Adopt the attached resolution which authorizes execution of a short-form
purchase agreement for this purpose.
2. Take no action.
Alternative 1.
www.cityofpriorlake.com
Phone 952.447.4230 / Fax 952.447.4245
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION OS-xx
Motion By:
Second By:
WHEREAS, The 2030 Vision and Strategic Plan encourages the redevelopment of the Downtown
area; and
WHEREAS, The City Council has previously solicited proposals for the development of the Hastings
and Main Avenue property; and
WHEREAS, There is a seven-foot strip adjacent to the City-owned property which is owned by L.B.
J. Grain; and
WHEREAS, The City has negotiated an appropriate agreement for the purchase of this property in
order that it may be consolidated with the City-owned parcel for development purposes.
NOW THEREFORE, 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 execute the short-form purchase agreement
on behalf of the City.
3. Funds for this transaction shall be allocated from the Contingency Fund in an amount not to exceed
$6,421.00.
PASSED AND ADOPTED THIS 15th DAY OF August, 2005.
YES
NO
Hauaen Hauaen
Flemina Fleming
leMair leMair
Petersen Petersen
Zieska Zieska
Frank Boyles, City Manager
R\RESOI.l!T!\ADfvllNRES\200:5\OS"j:5 purchase LOJ 9raWWW(!:ityofpriorlake.com
Phone 952.447.4230 / Fax 952.447.4245
20542A
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PHOTOGRAPHS OF SUBJECT
East View from Main Avenue
Aerial View (Building Gone)
PATCHIN MESSNER & DODD
Valuation Counselors
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