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construction prior to consummation of the sale; the interests of the city will be preserved by an escrow <br /> agreement. <br /> *It appears that both City and the EDA own a portion of Lot 1,Block 1,Northstar Business Park. The <br /> EDA owns the balance of the unsold lots of Northstar Business Park. Staff could find no record <br /> formally authorizing the EDA to act on behalf of the City Council, therefore,the EDA attorney advises <br /> the Council formally give the property to the EDA,to be sold by them. This will help logistically with <br /> the sale of the balance of Lot 1,Block 1 in the future. <br /> Financial Impact <br /> None <br /> Attachments <br /> ■ PSP lot diagram <br /> N:\Public Bodies\Agenda Packets\10-06-2014\Final\x10.2 sr PSB lot purchase.docx <br />