HomeMy WebLinkAbout26-039 Approving the Purchase Agreement for the March DR Extension Project (2022-27)
4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 26-039 RESOLUTION APPROVING THE PURCHASE OF PROPERTY AT 13995 HIDDEN LAKE TRAIL NE AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE PURCHASE AGREEMENT
Motion By: Braid Second By: Hellier
WHEREAS, WHEREAS, WHEREAS,
WHEREAS, 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 the Property Owner is interested in selling their Property and the City of Prior Lake (“City”) is interested in purchasing the Property; and 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
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 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.
M:\2- City Clerk\City Council\Resolutions\2026\26-039 Approving the Purchase Agreement for the March DR Extension Project (2022-27).docx 2
Passed and adopted by the Prior Lake City Council this 10th day of March 2026.
VOTE Briggs Braid Churchill Lake Hellier Aye ☒ ☒ ☒ ☐ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☒ ☐
______________________________ Jason Wedel, City Manager