Laserfiche WebLink
C64/ 1 <br />9;114 ceffn�a <br />MAYOR <br />Bill Blesener <br />COUNCIL <br />Jim LaValle <br />Rick Montour <br />Barbara Allan <br />John Keis <br />515 Little Canada Road, Little Canada, MN 55117 -1600 ADMINISTRATOR <br />(651) 766 -4029 / FAX: (651) 766-4048 Joel R. Hanson <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 />November 18, 2005 <br />County Road B Property Sale <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 />Purchase Price <br />Earnest Money <br />Proposed Use <br />Square Footage <br />Office Percentage (1) <br />Zoning Compliance <br />Outdoor Storage <br />Access to Lift Station <br />Contingencies (2) <br />Acceptance Deadline <br />Ponding <br />Front of Bldg Exposure Hwy 36 <br />Signage Monument Facing 36 <br />Coatney TOPC <br />$385,000 <br />$10,000 <br />Six Office /Whse Condos <br />15,000 <br />25% <br />Yes <br />Yes - Pursuant to BW Provisions <br />Yes <br />See Below <br />Before 1/21/06 <br />On -site <br />(1) <br />$385,000 <br />$25,000 <br />Owner Occ. Office /Whse <br />22,000 <br />23% <br />Yes <br />None Shown <br />Yes <br />See Below <br />On or Before May 1St <br />Off -site <br />Hwy 36 <br />Monument Facing B & <br />Building Signage Facing 36 <br />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 />