3.0 HRSR 12-07-2015 - Laserfiche WebLink

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"Redevelopment Law"shall mean Minnesota Statutes, Section 469.001 through 469.047, as amended. "Soil Correction"shall mean the site and engineering work necessary and required to clean, clear, remove, mitigate and/or remediate Unsuitable Soils from Development Property. "Soil Correction Escrow Agreement"shall mean an agreement between the City and a Purchaser for the escrow of some or all of the net Purchase Price proceeds to reimburse the Purchaser for certain Soil Correction costs as agreed to by the City and approved by the CPED Director or the City Council. "State"shall mean the State of Minnesota. "Unsuitable Soils"shall mean abnormal, geotechnically substandard or contaminated soils, which, in CPED Staff's professional opinion, qualify for soil correction. Such abnormal, substandard or contaminated soils shall include, but are not limited to, soils that contain substantive amounts of loose and/or organic soils; demolition debris and rubble; abandoned building foundations, pilings, underground utilities, and storage tanks; illegally dumped and buried materials; and hazardous substances, hazardous wastes, pollutants or contaminants as those terms are defined under any federal, state or local statute, ordinance, code or regulation. "Writedown"shall mean the amount by which the Purchase Price is reduced below the Fair Reuse Value based on public purpose consideration rather than Fair Market Value valuation methods. "Writeoff"shall mean the difference between the City's actual cost to assemble the Development Property for disposition, which costs include land acquisition, demolition and relocation costs, and the Fair Reuse Value. "Zoning Ordinance"shall mean Title 20 of the Minneapolis Code of Ordinances. 2. Pre-Disposition Activities a. Disposition for Redevelopment or other Statutory Purposes The City can only dispose of real property as permitted by law. Generally, Development Property will be disposed of under the authority of Minnesota Statutes Chapter 469 which authorizes the sale or lease of Development Property in accordance with a City-adopted redevelopment plan or, with or without accordance to a redevelopment plan, for blight removal or for housing purposes to a nonprofit housing corporation or to persons of low and moderate income. There are a number of other disposition authorities available to the City. If a land sale does not fall within the foregoing categories, contact the assigned attorney to identify the proper authority. The City will not convey Development Property for land banking or speculation purposes. b. Property Investigation The CPED Director shall assign each Development Property to a division within CPED based on intended use or geographic area and a Project Coordinator shall be assigned to handle disposition. CPED Staff should evaluate some or all of the following issues and their effect on disposition. The Project Coordinator will need to determine what additional information is needed on a case-by-case basis. If there are costs associated with a particular issue, the Project Coordinator will need to identify funds for such activities. Updated as of 10/6/04 3