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tb uJe to✓ <br /> 1st Reading: May 24, 2021 Publication: June 22.. 2021 <br /> 2nd Reading: June 14, 2021 Effective: July 22, 2021 <br /> CITY OF LINO LAKES <br /> ORDINANCE NO. 04-21 <br /> ORDINANCE APPROVING SALE OF LAND TO <br /> VAQUERO VENUTURES MANAGEMENT, LLC <br /> The City Council of Lino Lakes ordains: <br /> Section 1. Property. The City is the fee owner of the Property legally described as: <br /> Lot 12 and Lot 13. Block 2, Carole's Estates 2°d Addition <br /> Section 2.Findings. <br /> 1. The Property is excess property identified for sale to promote economic <br /> development. <br /> 2. The Property is guided for Commercial use in the City's 2040 Compreh-1 sive <br /> Plan and zoned GB, General Business District. <br /> 3. The sale of property will result in development of the property and enha cement <br /> of the City's tax base. <br /> 4. The sale of property will facilitate realignment of the 77th Street to provi to <br /> improvement commercial and residential access to property west of Lak: Drive. <br /> Section 3.Authorization <br /> The City Council approves the sale of the Property to Vaquero Ventures <br /> Management. LLC. The Mayor and City Clerk are hereby authorized and direct;d to <br /> execute a purchase agreement, deed and other documents as may be necessary i order to <br /> sell the Property. Proceeds from the sale of the Property shall be used in accord.nce with <br /> the requirements of the City Charter. <br /> Section 4.Effective Date. <br /> This ordinance shall be in full force and effect from and after 30 days following <br /> its passage and publication, in accordance with section 3.09 of the City Charter. <br /> Adopted by the Lino Lakes City Council this 14th day of June. 2021. <br />