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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 />TO: <br />FROM: <br />DATE: <br />RE: <br />MEMORANDUM <br />Mayor Blesener & Members of the City Council <br />Joel Hanson, City Administrator <br />December 12, 2005 <br />County Road B Property Sale — 3"1 Offer <br />MAYOR <br />13i11 Blesener <br />COUNCIL <br />Jim LaVallc <br />Rick Montour <br />Barbara Allan <br />John Reis <br />ADMINISTRATOR <br />Joel R. Hanson <br />A third purchase agreement was received for the sale of the City's property adjacent to County <br />Road B and I- Iighway 36. It is from DaVern, Inc. (David Ficek who developed Blacktern Town <br />Offices on Rice Street). The revised comparison is as follows: <br />Purchase Price <br />Earnest Money <br />Proposed Use <br />Square Footage <br />Office Percentage <br />Zoning Compliance <br />Outdoor Storage <br />Access to Lift Station <br />Contingencies (1) <br />Acceptance Deadline <br />Pending <br />Front of Bldg Exposure <br />Signage <br />DaVern <br />$400,000 <br />$1.0.000 <br />44 Units of Assisted Living/Memory Care Senior Housing <br />17,200 per floor — 2 stories <br />N/A <br />No — Needs rezoning <br />N/A <br />Not Specified, but Possible <br />See Below <br />None Listed <br />On -site <br />Faces South West — See Site Plan <br />Monument Facing 36 <br />(1) 90 day Buyer's Due Diligence period whereby they can determine if site is suitable for <br />their purposes. at their sole discretion. If not, earnest money is refundable. <br />(2) Seller's Representations are broader than we can make. Specifically, we cannot state that <br />the site has not been used for "dumping of debris. including but not limited to rocks. stumps, or <br />concrete''. In fact. it appears some dumping has occurred (rubble along the edge of the road). <br />We can only warrant to the extent we have controlled the property. We can also provide <br />