01-14-2013 EDA Packet - Laserfiche WebLink

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A bill for an act relating to the County of Anoka and the City of Lino Lakes Economic Development Authority; authorizing conveyance of certain tax- forfeited land BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. [Conveyance of property.] Notwithstanding the provisions of Minnesota Statutes, section 282.01, subdivision la, Anoka County shall convey to the city of Lino Lakes Economic Development Authority all of the following tax -forfeited parcels: 17-31-22-11-0002, 17-31-22-12-0051, 17-31-22-12-0053, 17-31-22-12-0059, 17-31-22-12-0060, 17-31-22-12-0063, 17-31-22-13-0049, 17-31-22-13-0053, 17-31-22- 13-0054, 17-31-22-13-0055, 17-31-22-13-0056, 17-31-22-13-0057, 17-31-22-24-0062, 17-31-22-24-0063, 17-31-22-24-0064. No monetary compensation or consideration is required for, and no conditions attach to, the conveyance except as provided in section 2. The commissioner of revenue must convey the property on behalf of the state by quit claim deed. Sec. 2 [Condition of conveyance.] The deed for the parcels described in section 1 must contain a restrictive covenant providing that upon resale by the City of all or any portion of those parcels to a non -governmental entity, the Lino Lakes Economic Development Authority shall pay to the County ten percent of the gross sale proceeds from such sale. The term "gross sale proceeds" means the purchase price negotiated between the Lino Lakes Economic Development Authority and buyer, excluding the amount of special assessments reinstated by the City of Lino Lakes and payable by buyer upon or after closing, and excluding any other closing costs payable by buyer. The County shall apply such proceeds received from the Lino Lakes Economic Development Authority in accordance with section 282.08. The restrictive covenant for any parcel shall expire 30 years after the date of the deed. Sec. 3 [Timing.] The deed for conveyance of the property described in section 1 shall be delivered by the Minnesota Department of Revenue to the County of Anoka for recording by no later than 90 days after the effective date of this act. Sec. 4. [EFFECTIVE DATE]. This act is effective upon compliance by the respective governing bodies of the county of Anoka and the Lino Lakes Economic Development Authority with the requirements of Minnesota Statutes, 645.021, subdivision 3. 417810v5 SJB LN140-80