Title
RESOLUTION AUTHORIZING THE PURCHASE OF CERTAIN REAL PROPERTY IN THE ONEOTA NEIGHBORHOOD FROM KNIFE RIVER PROPERTIES LLC FOR $1,175,000.00, PLUS ASSOCIATED COSTS, UNDER THE TERMS AND CONDITIONS OF A CERTAIN PURCHASE AGREEMENT.
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CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to purchase the real property legally described on the attached Exhibit 1 (the “Property”) from Knife River Properties LLC for $1,175,000.00 under the terms and conditions of a purchase agreement, substantially the same as that on file with the office of the City Clerk; payable from Fund No. 450-030-5520-CP450-CONMNT (Capital Improvements, Finance, Buildings & Structures, Capital Projects-Other Fund Contributions, Consolidated Maintenance).
FURTHER RESOLVED, that the proper city officials are hereby authorized to execute all documents necessary to effectuate the acquisition of the Property and pay additional costs associated with the acquisition of the Property, including but not limited to the survey, title policy premium, environmental testing/reports, and appraisal.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes the acquisition of certain real property in the Oneota neighborhood located at 4201 W. First Street (the “Property”) from Knife River Properties LLC for $1,175,000 under the terms and conditions of the purchase agreement attached as Exhibit 2. The Property lies adjacent to city-owned property used for Streets Maintenance and Parks Maintenance operations. The City desires to acquire the Property to combine with the existing city-owned property to create a larger site, with the intention of developing a modern, centralized campus for Parks Maintenance, Street Maintenance, and Fleet Maintenance.
A map attached as Exhibit 3 depicts the existing City-owned property in red and the Property purposed to be purchased in blue.