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RESOLUTION AUTHORIZING THE EXECUTION OF A PURCHASE AGREEMENT WITH NORTHERN AQ LLC FOR THE SALE OF PROPERTY IN THE LINCOLN PARK NEIGHBORHOOD FOR NOMINAL CONSIDERATION.
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CITY PROPOSAL:
WHEREAS, pursuant to Section 2-177.4 of the Duluth City Code, 1959, as amended (the “Code”), the city proposes to sell the following described certain real property to Northern AQ LLC (“Northern AQ”) in Ordinance No. 21-030 (the “Property”);
Easterly One-half (E’ly ½) of Lot Three Hundred Fifty-Nine (359), Block One Hundred Twenty-three (123), Duluth Proper Second Division, St. Louis County, Minnesota.
WHEREAS, the structure previously located on the Property had a large fire and was condemned for human habitation;
WHEREAS, the prior owner of the Property donated it to the city for demolition and re-development for housing purposes;
WHEREAS, Northern AQ wishes to construct two residential units on the Property, with each unit being at least 500 square feet (the “Project”);
WHEREAS, the City wishes to convey the Property to Northern AQ for completion of the Project;
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 that financing and construction of the Project may occur on schedule.
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 Northern AQ for the sale of the Property for $1.00, plus an administrative fee of $500.00 for staff time invested to facilitate the transaction.
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. 21-030; and (b) all terms and conditions contained in the purchase agreement attached as Exhibit 1 have been completed.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize the execution of a purchase agreement with Northern AQ LLC for the sale of real property located at 2213 W. 4th Street in the Lincoln Park neighborhood (the “Property”), which Property is depicted 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. 21-030; and (b) all terms and conditions contained in the purchase agreement attached as Exhibit 1 have been completed.