Title
AN ORDINANCE AUTHORIZING THE CONVEYANCE OF REAL PROPERTY IN THE FAIRMOUNT NEIGHBORHOOD TO THE DULUTH ECONOMIC DEVELOPMENT AUTHORITY 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 No. 22-0499, which property is legally described as (the "Property"):
Lots 4-16, inclusive, Block 2, CLINTON PLACE ADDITION TO DULUTH
Lots 11-16, inclusive, Block 3, CLINTON PLACE ADDITION TO DULUTH
Lots 5-16, inclusive, Block 5, CLINTON PLACE ADDITION TO DULUTH
St. Louis County, Minnesota.
(b) Pursuant to Section 2-177.3 of the Code, the city council finds that the conveyance to the Duluth Economic Development Authority, an economic development authority under Minnesota Statutes Chapter 469 ("DEDA"), of the Property is in the best interests of the citizens of the city and exceeds the needs of the city to retain the property.
(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 estimated market value of the Property has a current estimated market value of $42,700.
(e) Pursuant to Resolution No. 22-0595, the city council authorized city officials to enter into a purchase agreement (the "Purchase Agreement") for the sale of the Property to DEDA.
Section 2. That the proper city officials are hereby authorized to: (i) convey the Property to DEDA in accordance with the terms of the Purchase Agreement for the sum of $1.00 and (ii) execute the deed, substantially in the form attached as Exhibit A, and all...
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