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EW Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 8.1 <br /> Agenda Section Meeting Date Prepared by <br /> General Business November 16, 2015 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> Agreements with Sherburne County and MnDOT Cal Portner, City Administrator <br /> for Purchase of Property (Joplin Street Area) Reviewed by <br /> Action Requested <br /> Approve,by motion, the purchase of a remnant parcel from Sherburne County and enter into an <br /> agreement with MnDOT to purchase the surplus easement. <br /> Background/Discussion <br /> The city has been working with a developer on a land assembly project with four separate parcels <br /> (Exhibit A). The city owns two of the four parcels at the intersections of Joplin Avenue and Business <br /> Center Drive. The owners of the remaining parcels include the county, and the heirs of Hogan A. <br /> Wingness and Harry and Sue Lakoduk. The northerly parcel, owned by both Lakoduk and Wingness are <br /> encumbered by MnDOT right-of-way easements. <br /> The developer proposes site improvements with up to three commercial/retail buildings possibly <br /> including a national client with a drive thru, a regional client, and an opportunity for local business <br /> development in a multi-tenant building. The developer also proposes to work with the city, county, and <br /> the fair board to relocate the existing sign to a new location on the site. <br /> An appraisal was conducted on the city-owned property on July 21, 2015,by Nagell Appraisal& <br /> Consulting. The City Council approved a purchase agreement for the sale of the city property to the <br /> developer at their November 2, 2015, meeting. <br /> Upon successful acquisition of the property from each of the fee owners and upon release of the right- <br /> of-way easement by MnDOT, the city will sell the fully-assembled parcel to the developer. <br /> Staff recommends a formal purchase agreement with the county to acquire the northerly portion of the <br /> property (Exhibit A) and enter into a formal agreement with MnDOT to purchase the surplus easement <br /> once the property is secured from the fee owners. <br /> Financial Impact <br /> E&I Investments have deposited $10,000 of earnest money to the city to begin the process. If the <br /> acquisition costs exceed$10,000, the developer will be required to deposit additional sums in escrow. <br /> Attachments <br /> ■ Exhibit A <br /> ■ Property Survey <br /> POWERED 6T <br /> AR <br />