Title
RESOLUTION AUTHORIZING THE EXECUTION OF A PURCHASE AGREEMENT WITH JOTO, LLC FOR THE SALE OF PROPERTY IN THE GARY-NEW DULUTH NEIGHBORHOOD FOR $4,620.
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CITY PROPOSAL:
WHEREAS, pursuant to Section 2-178 of the Duluth City Code, 1959, as amended (the “Code”), the city proposes to sell the following described certain real property to JOTO, LLC (“Joto”) in Ordinance No. 25-001 (the “Property”):
A strip of land 25 ft on either side of the center line of Duluth Trans RY as formerly laid out across SE¼ of SE¼ of NE¼ of SW¼, EXCEPT MINERALS
St. Louis County, Minnesota
WHEREAS, the Property is an approximately 190’ x 25’ strip of land currently owned by the State of Minnesota (the “State”);
WHEREAS, Joto owns real estate adjacent to the Property and a portion of its building lies within the Property. Joto desires to acquire the Property so that it fully owns all of the property within its site;
WHEREAS, the State can sell the Property directly to the City, but not to Joto;
WHEREAS, the City desires to acquire the Property from the State and immediately sell it to Joto, which sale must be authorized via ordinance;
WHEREAS, pursuant to Section 11 of the Duluth City Charter, 1913, as amended (“Charter”), every ordinance, other than an emergency ordinance, shall have two public readings;
WHEREAS, pursuant to Section 15 of the Charter, most ordinances enacted by the council shall take effect 30 days after the date of their last publication (“Effective Date”);
WHEREAS, the parties need to enter into a purchase agreement in advance of the Effective Date so the process to acquire the Property from the State can commence.
NOW, THEREFORE, BE IT RESOLVED, that the proper city officials are hereby authorized to enter into a purchase agreement, substantially the same as the agreement attached as Exhibit 1, with Joto for the sale of the Property for $4,620, plus all other costs and expenses as further described in the purchase agreement attached as Exhibit 1; funds shall be deposited into Fund 110-700-1420-4640.
FURTHER RESOLVED, that the sale of the Property will not occur unless and until: (a) the city council authorizes the sale of the Property through Ordinance No. 25-001; (b) the City acquires the Property from the State; and (c) Joto complies with all terms and conditions contained in the purchase agreement attached as Exhibit 1.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize the execution of a purchase agreement with Joto, LLC for the sale of certain real property in the Gary-New Duluth neighborhood located off Commonwealth Ave. (across from Atlas Industrial Park) (the “Property”), which Property is depicted in red on the attached Exhibit 2. The sale of the Property will not occur unless and until: (a) the city council authorizes the sale of the Property through Ordinance No. 25-001; b) the City acquires the Property from the State of Minnesota and (c) Joto, LLC complies with all terms and conditions contained in the purchase agreement attached as Exhibit 1.