Title
AN ORDINANCE AUTHORIZING THE CONVEYANCE OF REAL PROPERTY AT DULUTH INTERNATIONAL AIRPORT 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. 22-1068, which property is legally described in the attached Exhibit A (the "Incubator Building").
(b) Pursuant to Section 2-176(b) of the Code, the city's planning department reviewed the proposed conveyance of the Incubator Building 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 Incubator Building has a current estimated market value of $4,179,000; however, an independent appraisal of the property is currently in process and, when completed, the City presumes the property will be appraised at a different value.
(d) Pursuant to Section 2-177.3 of the Code, the city council finds that a conveyance of the Incubator Building to the Duluth Economic Development Authority, a body politic and corporate, organized under the laws of the State of Minnesota ("DEDA"), is in the best interests of the citizens of the city and exceeds the needs of the city to retain the property.
Section 2. That the proper city officials are hereby authorized to: (i) convey the Property to DEDA in accordance with the terms of a Purchase Agreement for One and No/100 Dollars and (ii) execute a deed and all other documents necessary to effectuate the conveyance of the Property to DEDA.
Section 3. That this ordinance shall take effect 30 days after its passage and publication.
Statement of Purpose
STATEMENT OF PU...
Click here for full text