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MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />515 Little Canada Road, Little Canada, MN 55117 -1600 ADMINISTRATOR <br />(651) 484 -2177 / FAX: (651) 484 -4538 Joel R. Hanson <br />Email: cityhall @ci.little- canada.mn.us <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: September 8, 2000 <br />RE: Schreier Property Purchase Agreement <br />As you recall, the City had indicated an interest in working with Precision Landscape & Tree, <br />Inc. in the acquisition of the property owned by Richard Schreier and Associates at the <br />intersection of Owasso Boulevard and Spruce Street. Those two parties have reached an <br />agreement as to the language to be utilized in consummating the sale. A key aspect of the <br />transaction is the City issuing a letter indicating this property was acquired under the threat of <br />eminent domain in order to provide additional time for capital gains relief to the sellers. <br />Attached is the draft of the purchase agreement between the two parties. Typically, we have <br />entered into a purchase agreement with the seller and then assigned our interest to the ultimate <br />purchaser. However, given the language in this agreement, I would recommend that we let the <br />sales transaction occur directly between the two parties with the understanding we will issue the <br />letter indicating the threat of eminent domain was a factor in this sale. This would eliminate any <br />possible concern about liability to the City associated with the purchase agreement language that <br />we would not typically absorb. <br />I believe this is an appropriate way to pursue this matter as we did indicate an obligation to assist <br />Precision Tree in their relocation from Country Drive. The City Attorney concurs with this <br />concept. If the Council is in agreement, we would need a resolution authorizing the issuance of <br />the attached letter indicating the property was acquired under the threat of eminent domain. <br />cc: Precision Landscape & Tree, Inc. <br />Tom Schuette, Azure Properties <br />H: \KrisP \CORRESP \2000\Schreier Property Agreement.doc <br />Page 28 <br />