04/26/1999 Council Packet - Laserfiche WebLink

Home Search

AGENDA ITEM 4A STAFF ORIGINATOR: William Hawkins, City Attorney DATE: 4/20/99 TOPIC: Consider Resolution 99 -33 Authorizing execution of an Option Agreement between the City of Lino Lakes and the Blaine American Legion VOTE REQUIRED: 3/5 BACKGROUND: The Blaine American Legion is interested in obtaining the site where the Lino Lakes Police Department was located until its recent move. A number of issues need to be addressed before a land sale to the Legion is possible, including completion of a formal real estate appraisal and the need for rezoning the site. In the meantime, the Legion would like to ensure the site is not purchased by another buyer. The city attorney has prepared an agreement that gives the Legion a six- month option to purchase the site. The option agreement states that the city council will review and approve the appraisal value established by the appraisal firm to establish the sales price. It also contains a clause requiring a nonrefundable amount of money in exchange for the option. That amount generally ranges from $500 to $5,000 and will be applied to the purchase price in the event of a sale. OPTIONS: 1. Establish the amount of money required to purchase the option and approve Resolution 99 -33 authorizing the execution of an option agreement between the CITY OF LINO LAKES and the Blaine American Legion. 2. Return to staff for modification. RECOMMFNDATIONt Establish the amount of money required to purchase the option and approve Resolution 99- 99 -33 authorizing the execution of an option agreement between the CITY OF LINO LAKES and the Blaine American Legion.