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City Council Minutes Page 4 <br />December 19, 2005 <br />----------------------------- <br />MOTION CARRIED 3-2. Councilmember Motin and Dietz opposed. <br /> <br />6.2. Update on Pinewood Letter of Intent <br /> <br />Mayor Klinzing provided background of the city’s attempt to purchase Pinewood Golf <br />Course. She felt the property was worth $1.8 million and would like the City Council to <br />draft up a purchase agreement for this amount with the same terms outlined in the last <br />Letter of Intent to Paul Krause, current owner of the Course. <br /> <br />MOVED BY MAYOR KLINZING AND SECONDED BY COUNCILMEMBER <br />FARBER TO DRAFT A PURCHASE AGREEMENT IN THE AMOUNT OF $1.8 <br />MILLION WITH THE FOLLOWING TERMS: <br /> <br /> <br />1.$1.8 MILLION OVER 5 YEARS ON A CONTRACT FOR DEED. <br /> <br /> <br />2.INTEREST RATE OF 6% WITH A DOWN PAYMENT OF $400,000. <br /> <br /> <br />3.NO PREPAYMENT FOR FIVE YEARS. <br /> <br /> <br />4.CLOSING HELD AFTER JANUARY 1, 2006. <br /> <br />Councilmember Motin stated he would like an amendment that this would be the final offer. <br />The maker and seconded of the motion were amendable. <br /> <br />MOTION CARRIED 3-2. Councilmember Dietz and Gumphrey opposed. <br /> <br />Councilmember Motin stated he spoke with Mr. Krause’s attorney, who indicated that this <br />offer would not be acceptable to Mr. Krause. Councilmember Motin stated this would be a <br />great addition to the city park system but from a business standpoint it would not be a good <br />investment for the city. He stated it would not make money and may operate with a deficit <br />similar to the Ice Arena operation. <br /> <br />Councilmember Farber concurred. <br /> <br />7.1. Resolution for Final Plat Approval for Van Den Berg Addition Requested by Robert Van <br />Den Berg, Case No. P 05-17 <br /> <br /> Mr. Leeseberg stated the applicant would like to final plat Van Den Berg Addition into 10 <br />lots. He reviewed the plat. <br /> <br /> MOVED BY COUNCILMEMBER FARBER AND SECONDED BY <br />COUNCILMEMBER GUMPHREY TO ADOPT RESOLUTION 05-132 <br />GRANTING FINAL PLAT APPROVAL FOR VAN DEN BERG ADDITION, <br />CASE NO. P 05-17 WITH THE FOLLOWING CONDITIONS: <br /> <br /> <br />1.ALL COMMENTS OF THE CITY ENGINEER SHALL BE <br />ADDRESSED. <br /> <br /> <br />2.ALL REQUIRED SUBDIVISION/PARK INFORMATION SHALL BE <br />PROVIDED IN AN ELECTRONIC FORMAT (.DWG FILE) AS <br /> <br />