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~~ <br />~°~C <br />~ ~ <br />~ ' G <br />~} <br />v ~ - '~? <br />/~ ,ri4 <br />/" ~~> ~: ~p ~ <br />O ~C~CG' (~lLlZCL'~CC <br />515 LiCne Canada Road. Little Canada, MN 55117-1600 <br />(651] 766-4029 / ('AX: (651) 766-4048 <br />www. ci.little-canada. mn. u s <br />MEMORANDUM <br />TO: Mayor Blesener &e Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATi;: August 8, 2008 <br />RG: Terrace Heights Real )state Swap Agreement <br />MAYO12 <br />Hill nlesrncr <br />COUNCIL <br />I2~clc Montmu' <br />Hari>:,,~.~ An.n, <br />John [Scis <br />Mlcha<:1 McCraw <br />ADMINIST BATOR <br />Jarl R. 4{an SOn <br />Attached is a draft of the proposed Real Estate Swap Agreement with Terrace Heights Mobile Home <br />Park, Inc. needed to accomplish the addition of a second left turn lane on County Road B2. The City <br />Attorney has reviewed and modified the document. It still needs to be reviewed by Terrace I-Ieights. <br />The lcey provisions areas follows: <br />- We need to acquire the property at 2404 Rice and 93 County Road B2 (see Exhibit A). <br />- If the City cannot acquire the two parcels, we can terminate the deal. We must then reimburse <br />'terrace I-Ieights for title, survey, and other fees expended in reliance of this contract. <br />- This transaction will close within 180 days of our acquisition of the above referenced parcels. <br />- The property is being conveyed "AS IS" by each party. However, each party may also make <br />determinations of environmental conditions as a condition precedent. <br />Terrace Heights must be able to obtain approval for the six replacement sites or they can <br />terminate the deal. <br />- We agree to attempt to acquire the units on Lots A, B, C, & D. (We have already acquired D.) <br />We will not pay lot rent for the units acquired unless we rent them out. <br />- We are responsible for demolition moving of the structures on the property we acquire and the <br />personal property on Lots A, B, C, and D. <br />- Terrace Heights will move the unit we acquired on Lot D to another site in the park at our cost, <br />based on at least two quotations for the work to be undertaken. <br />- Terrace Heights is responsible for all costs in pr•epar•ing the new sites. <br />- We will not assess Terrace I-Ieights for the water main we ultimately construct along County <br />Road B2, but they will be charged for any water services installed for the new sites. <br />- We are also agreeing to pave Park Street within Terrace I-Ieights at the time we improve B2. We <br />will also be installing a water main within the park to improve fire protection. These costs will <br />be assessed to Terrace Heights. <br />- Lastly, we will attempt to finalize the vacation of Park Street in a manner that results in that <br />street being controlled by Terrace Heights. <br />Subject to final discussions with Terrace Heights, staff recommends approval of this agreement. <br />