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Home My WebLink About05(U) - Resolution Approving the Purchase of Property at 13995 Hidden Lake Trail NE and Authorizing the City Manager to Execute the Purchase Agreement for the Marsh Dr Extension Project (2022-27) Report ITEM: 5U CITY COUNCIL AGENDA REPORT MEETING DATE: March 10, 2026 PREPARED BY: Nick Monserud, Public Works Director/City Engineer Casey McCabe, Community Development Director PRESENTED BY: Nick Monserud AGENDA ITEM: Resolution Approving the Purchase of Property at 13995 Hidden Lake Trail NE and Authorizing the City Manager to Execute the Purchase Agreement for the Marsh Dr Extension Project (2022-27) RECOMMENDED ACTION: Adopt a resolution approving the purchase of property at 13995 Hidden Lake Trail NE and authorizing the Mayor and City Manager to execute the purchase agreement for the Marsh Dr Extension Project (2022-27). BACKGROUND: In partnership with Scott County, the City desires to purchase real property located at 13995 Hidden Lake Trl NE in Prior Lake to accommodate the extension of Marsh Dr NE between Hidden lake Trl NE and Pike Lake Trl NE, as shown on the attached location map. The purchase cost is $750,000 and will be payable at the closing on March 18, 2026. The attached purchase agreement, which has been reviewed by City staff and the City Attorney, includes all the terms and conditions of the sale. They City will ultimately dedicate the necessary right-of-way for the extension of March Drive, subdivide the property, and re-sell the remaining parcel which contains the existing home on the open market. FINANCIAL IMPACT: The $750,000 for the parcel shall be funded by TRN23-000001 Marsh Drive NE Extension (501 Construction Fund) identified in the CIP. Scott County has this identified this project in their Transportation Improvement Plan (TIP) and will be participating financially at 50% of the cost of the property. At a future meeting, the City Council will be asked to consider a request to execute a cooperative agreement with Scott County for reimbursement to cover their 50% of the purchase price. ALTERNATIVES: 1. Motion and second as part of the consent agenda to adopt a resolution approving the purchase of property at 13995 Hidden Lake Trail NE and authorizing the City Manager to execute the purchase agreement for the Marsh Dr Extension Project (2022-27). 2. Motion and second to remove this item from the consent agenda for further discussion. ATTACHMENTS: 1. Resolution 2. Location Map 3. Purchase Agreement City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 26- RESOLUTION APPROVING THE PURCHASE OF PROPERTY AT 13995 HIDDEN LAKE TRAIL NE AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE PURCHASE AGREEMENT Motion By: Second By: WHEREAS, RT Development, Inc., a Minnesota corporation (“Property Owner”) is the owner of property at 13995 Hidden Lake Trail NE, Prior Lake, MN 55372 PID 259230041 (“Property”); and WHEREAS, the Property Owner is interested in selling their Property and the City of Prior Lake (“City”) is interested in purchasing the Property; and WHEREAS, Prior Lake City Staff has prepared a Real Estate Purchase Agreement (“Agreement”), which has been reviewed and agreed to by the Property Owner which identifies a sale price of $750,000 and a closing date of March 18, 2026; and WHEREAS, the acquisition of Property will allow the City to complete a necessary street and utility connection of Marsh Drive NE, which is an important supporting roadway for CH42 and will provide another access point for an existing residential neighborhood; and WHEREAS, the Prior Lake City Council reviewed the Real Estate Purchase Agreement on March 10, 2026 and finds acquisition of the Property will facilitate future construction of the Marsh Drive NE street connection. 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 as if fully set forth. 2. Acquisition of the Property is in the best interest of the City and the health, safety, morals and welfare of the residents of the City and in accord with the public purposes and provisions of the applicable state and local laws and requirements. 3. Funding necessary for the property acquisition, together with all Buyer related costs identified in the Real Estate Purchase Agreement, will come from the 501 Construction Fund. 4. The Real Estate Purchase Agreement is approved. 5. The Mayor and City Manager are authorized to execute the Real Estate Purchase Agreement. 6. The City Manager is authorized to execute all other documents as necessary to convey the Property to the City in accordance with the terms of the Real Estate Purchase Agreement and this Resolution. th Passed and adopted by the Prior Lake City Council this 10 day of March 2026. VOTE Briggs Burkart Churchill Lake Hellier Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ ______________________________ Jason Wedel, City Manager C:\\Users\\hsimon\\AppData\\Local\\Temp\\Report Attachment - 20260310 Approve Purchase Agreement for Marsh Dr - RES_675985\\Report Attachment - 20260310 Approve Purchase Agreement for Marsh D.docx 2 13975 4262 4270 4370 4460 14101 4300 13985 13866 13900 4130 1408514091 4400 4070 4489 13949 13941 13933 13925 4163 4155 419441864147 138934139 13887 13881 13898 1387513890 13884 13872 13878 13869 4126 1386513862 4120 4114 PIKE LAKE TRL N E M A R S H DR NE LAKE P O I N T E R D N E F O U N T AIN HILLS DR NE H I D D E N L AKE TRL NE42 REVERE WAY F R A NKLIN T RLSE CONNE L L Y P K W Y FI S H POI N T RD SE C ROSSAN D RASTSE HORIZON DR W I L DS P KWY NW 150TH ST W VALLEY VIEW RD CASEY PKWY P IKE LAKETRL N E ST E MME RRIDGE RDNW N ORT H W O O D RD N W 150TH ST SE C ARRI A GEH I L L RD 170TH ST E 160TH ST NW W I L D S R D G N W 12 8314 23 82 18 17 44 78 42 27 16 21 This product is for informational purposes and is not suitable for legal, engineering, or surveying purposes. This product has been produced by the City of Prior Lake for the sole purpose of geographic reference. No warranty is made by the City of Prior Lake regarding specific accuracy or completeness. 0 300 500 800 1,000 Feet Marsh Dr Extension Project (CP 2022-27) Council Item Location Map 2/24/2026