Laserfiche WebLink
GJ (i 4 ( i 7e `CG)ew <br />515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(651) 766 -4029 / FAX: (651) 766 -4048 <br />www.ci.little- canada.mn.us <br />MEMORANDUM <br />TO: Mayor Blesener & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: November 18, 2005 <br />RE: County Road B Property Sale <br />MAYOR <br />Bill Blescner <br />COUNCIL <br />Jim LaValle <br />Rick Montour <br />Barbara Allan <br />John Keis <br />ADMINISTRATOR <br />Joel R. Hanson <br />Attached are two purchase agreements for the sale of the City's property adjacent to County <br />Road B and Highway 36. One is from Sean Coatney and the other is from TOPC, LLC. <br />At our last meeting, the City Council asked for a comparison of the two offers. That comparison <br />is as follows: <br />Coatney TOPC <br />Purchase Price $385,000 $385,000 <br />Earnest Money $10,000 $25,000 <br />Proposed Use Six Office /Whse Condos Owner Occ. Office /Whse <br />Square Footage 15,000 22,000 <br />Office Percentage (1) 25% 23% <br />Zoning Compliance Yes Yes <br />Outdoor Storage Yes - Pursuant to BW Provisions None Shown <br />Access to Lift Station Yes Yes <br />Contingencies (2) See Below See Below <br />Acceptance Deadline Before 1/21/06 On or Before May 1st <br />Ponding On -site Off -site <br />Front of Bldg Exposure Hwy 36 Hwy 36 <br />Signage Monument Facing 36 Monument Facing B & <br />Building Signage Facing 36 <br />(1) Condo Project is build to suit. 25% office area is an estimate based on their experience. <br />It was noted that one build out in the White Bear Lake project was almost 80% office. <br />(2) Contingencies & Issue: <br />Coatney: <br />• Zoning Approvals by City of Little Canada to allow project. <br />