Laserfiche WebLink
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3C <br />STAFF ORIGINATOR: Michael Grochala, Community Development Director <br />MEETING DATE: January 22, 2024 <br />TOPIC: Public Hearing. Consider Resolution No. 24-01, Approving Sale of <br />Property in the Apollo Business Park <br />VOTE REQUIRED: 3/5 <br />BACKGROUND <br />In December of 2023 the EDA took action to acquire from Anoka County a 2.03 acre tax forfeit <br />parcel along Apollo Drive (PIN 18-31-22-41-0011). The total purchase price of the property was <br />$900.00 plus recording and transfer fees of $104.65. <br />Pending County approval of the purchase staff is proposing approval of a purchase agreement <br />with MIT USA LLC (Mountain Manufacturing) for assemble with their adjacent property. MIT <br />USA LLC is currently evaluating expansion of their existing facility on the site. The property <br />would allow for expansion and treat increased stormwater runoff from the project. <br />Terms of the sale include: <br />1.Sale is subject to Anoka County approval of the EDA tax forfeit property purchase. <br />2.The EDA will retain a public drainage and utility easement over that part of the property <br />required for stormwater management including existing drainage from 374 Apollo. <br />3.Sale price of $900.00 <br />4.Buyer responsible for all fees and city administrative and legal costs associated with the <br />transfer. A $3,500 escrow will be established in addition to the sale price. <br />5.The lot will be combined with the existing parcel at 400 Apollo Drive (18-31-22-41- <br />0004). <br />RECOMMENDATION <br />Staff is recommending approval of Resolution No. 24-01. <br />ATTACHMENTS <br />1.Resolution No. 24-01 <br />2.Location Map