25-05 - Resolution - L and D Winter - Purchase Agreement

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CITY OF LINO LAKES RESOLUTION NO. 25-05 RESOLUTION APPROVING PURCHASE AGREEMENT WITH L. & D. WINTER 2023 CHARITABLE REMAINDER UNITRUST PROPERTY WHEREAS, the City prepared the Natural Resource Revolving Fund plan (the "Plan") to further the City's goals of Greenway System development, stormwater management and water quality improvements, public open space development and economic development by establishing a self -funding mechanism to acquire, protect, and enhance high value ecological areas; and WHEREAS, the Winter property was identified in the plan and subsequent investigation as having a high potential for development of a wetland bank; and WHEREAS, the City's NE Drainage Area Comprehensive Stormwater Management Plan identifies the property as a high priority stormwater volume and flood plain management area; and WHEREAS, proposed improvements to Otter Lake Road and future improvements to 24th Avenue require acquisition of right-of-way from the Winter Property, NOW, THEREFORE, BE IT RESOLVED by the City Council of Lino Lakes, Minnesota that the purchase of property, located at 7473 241h Avenue, (Anoka County, Minnesota, PID Nos. 13-31- 22-14-0001, 13-31-22-13-0002, 13-31-22-12-0002, and 13-31-22-11-0001), at a base purchase price of $2,425,000.00 in accordance with the provisions of the purchase agreement, is hereby approved. The Mayor and City Clerk are authorized to execute the purchase agreement on behalf of the City. The Mayor and Clerk are authorized and directed to sign all other necessary closing documents on behalf of the City and the City Council. BE IT FURTHER RESOLVED, that the City Attorney is hereby authorized to make any non - substantive changes to the agreement, other than purchase price, prior to execution by the Mayor and Clerk Adopted by the City Council of the City of Lino Lakes this 13th day of January, 2025. ,:I-, �- �&-rt o Rafferty, Mayor ATTEST: Roberta Colotti, CIVIC, City Clerk