Title
AN ORDINANCE AUTHORIZING THE CONVEYANCE OF CERTAIN REAL PROPERTY IN THE LINCOLN PARK NEIGHBORHOOD TO NORTHERN AQ LLC FOR $1.00.
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 No. 21-0525, legally described as follows (the "Property"):
Easterly One-half (E'ly 1/2) of Lot Three Hundred Fifty-Nine (359), Block One Hundred Twenty-three (123), Duluth Proper Second Division, St. Louis County, Minnesota.
(b) 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.
(c) Pursuant to Section 2-176(c) of the Code, the St. Louis County Assessor determined that the estimated market value of the Property is $5,400.
(d) Pursuant to Resolution No. 21-0608, the city council authorized city officials to enter into a purchase agreement (the "Purchase Agreement") for the sale of the Property to Northern AQ LLC, a Minnesota limited liability Company ("Northern AQ").
Section 2.
(a) Pursuant to Sections 2-177(d) and 2-177.4 of the Code, the City may convey property to a non-governmental entity at an amount at or less than market value in order to further city interests 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.
(b) The Property was donated to the city earlier this year for demolition of a condemned structure and redevelopment of the site.
(c) Northern AQ wishes acquire the Property to construct two residential units on the Property, with each unit being at least 500 square feet.
(d...
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