Title
AN ORDINANCE AUTHORIZING THE CONVEYANCE OF CERTAIN REAL PROPERTY IN DOWNTOWN DULUTH TO MINNESOTA POWER, A DIVISION OF ALLETE, INC., FOR NOMINAL CONSIDERATION.
Body
CITY PROPOSAL:
The city of Duluth does ordain:
Section 1.
(a) Pursuant to Section 2-176(a) of the Duluth City Code, 1959, as amended (the "Code"), the city council stated its intention to sell or convey certain property as set forth in Resolution 20-268, which property is legally described on the attached Exhibit 1 (the "Property"):
(b) Pursuant to Section 2-177.4 of the Code, the city may convey property to a non-governmental entity at less than market value if the city council finds that such conveyance will further other important city interests or objectives and that such conveyance is necessary to the accomplishment of such interests. The city council finds that the conveyance to Minnesota Power, a division of Allete, Inc., a Minnesota corporation ("Minnesota Power"), of the Property is necessary for the accomplishment of city interests, which interests include finalizing the terms and conditions contained in a development agreement dated May 30, 1985 and securing the public's rights in certain areas for plaza, utility and street purposes.
(c) Pursuant to Section 2-176(b) of the Code, the city's planning department reviewed the proposed conveyance of the Property for conformity to the city's comprehensive plan and reported that the conveyance of the Property conforms with said comprehensive plan and is surplus to the city's future needs.
(d) Pursuant to Section 2-176(c) of the Code, the St. Louis County Assessor determined that the Property has a current estimated market value of $297,400.
Section 2. That the proper city officials are hereby authorized to convey the Property to Minnesota Power for the sum of $1.00 and to execute all documents necessary to effectuate the conveyance of the Property to Minnesota Power, including the quit claim deed attached as Exhibit 2, contingent...
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