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P <br />• <br />• <br />AGENDA ITEM NO. 5A <br />STAFF ORIGINATOR: Rick DeGardner, Public Services Director <br />COUNCIL MEETING DATE: May 8, 2000 <br />TOPIC: SECOND READING, Consideration of Ordinance No. <br />06 -00, Offering the Sale, by the City of Lino Lakes, of <br />Lots 1 and 2, Block 2, Rice Lake Estates <br />VOTE REQUIRED: 3/5 <br />BACKGROUND: <br />Ordinance 06 -00 relates to the sale of two lots on Sandhill Drive that were deeded to <br />the city in 1988 to fulfill park dedication requirements for the Rice Lake Estates <br />Development. With the recent development of the park behind the well house, these <br />two lots are not needed. <br />The Tots were put on the market on March 22, 2000 with an asking price of $36,900. <br />Joe Meyer Homes submitted an offer for the full asking price on April 12. The purchase <br />agreement is contingent upon two additional soil borings being conducted at the city's <br />expense to ensure that the existing soils are acceptable since significant soil correction <br />will be necessary to provide a suitable building pad. The purchase agreement is also <br />contingent on City Council approval. <br />The first reading of this ordinance was approved at the April 24, 2000 City Council <br />meeting. Assuming the second reading is approved this evening, a Resolution <br />designating the proceeds to the Park Dedication Fund will be presented to the City <br />Council for consideration. <br />OPTIONS: <br />1. Approve Ordinance No. 00 -06. <br />2. Do not approve Ordinance No. 00 -06. <br />RECOMMENDATION: <br />Option 1 <br />5/2/00 <br />RD /Corr /Council /greensheet/selling lots sandhill drive <br />