HomeMy WebLinkAbout06-162
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
Motion By:
Millar
Second By: Dornbush
WHEREAS, the 2030 Vision and Strategic Plan provides that continued revitalization of the cities commercial
areas is important to the citizens of Prior Lake; and
WHEREAS, the City Council has deemed that a parcel located at the intersection of Franklin Trail and Village
Lake Drive (16675 Franklin Trail) is surplus to the City's needs; and
WHEREAS, Village Commerce Building, LLC submitted a proposal consistent with the terms and conditions set
forth in the Request for Proposals issued by the City for the sale of the property and construction of a
new two-story building, and
WHEREAS, the City Council awarded the project to Village Commerce Building, LLC and entered into
agreements setting out the terms and conditions of the sale and development; and
WHEREAS, the Developer has met each of the conditions required to proceed with the purchase of the property,
and the City staff has negotiated in good faith the terms and conditions of the Purchase Agreement
consistent with the provisions of the Agreement Regarding the Purchase of City-Owned Property
dated June 26, 2006, and the Development Agreement dated June 26, 2006; and
WHEREAS, the Developer has indicated his acceptance of the terms of the purchase by executing a modified
version of the City's Standard Purchase Agreement; and
WHEREAS, an extension of the deadline for entering into a development agreement for the property has
impacted the deadline for commencement of construction and are cause for adjustment to the
remaining timelines; and
WHEREAS, the Council believes the terms and conditions of the Purchase Agreement are appropriate, as well
as an adjustment to the timeline to commence construction.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA that:
1. The recitals set forth above are incorporated herein.
2. The Mayor and City Manager are hereby authorized to enter into a modified version of the City's Standard
Purchase Agreement, together with any document necessary to close the transaction, for the sale of the
property at 16675 Franklin Trail, Prior Lake, MN, in accordance with the terms and conditions of an Agreement
Regarding Purchase of City-Owned Property dated June 26, 2006, and a Development Agreement dated June
26, 2006.
3. Staff is hereby directed to amend the timeline in the Development Agreement and Agreement Regarding the
Purchase of City-Owned Property for the commencement of construction to November 1, 2006, completion of
construction to June 1, 2007, and issuance of a final certificate of occupancy to August 1, 2007.
4. Staff is hereby authorized to proceed to close the transaction consistent with the terms and conditions of the
Purchase Agreement.
PASSED AND ADOPTED THIS 6TH DAY OF FEBRUARY 2006.
'V~' rH'
, I
" " '.-.'
Haugen
Dornbush
Erickson
I LeMair
I Millar
YES
Abstain
X
X
Abstain
X
NO
Haugen
Dornbush
Erickson
LeMalr
Millar
City Manager, City of Prior Lake www.cityofpriorlake.com
I:\COUNCIL \RESOLUTI\A.DMINRES\2006\~18~f~5~W1~~~or-Yillj!%1< ~~4' 9P245