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1 <br />1 <br />1 <br />COUNCIL MEETING DECEMBER 19, 1991 <br />State statute also requires that if there is a default by the <br />City, only the landowner can repossess the property. Therefore, <br />if for some reason the City cannot pay for the property as <br />required in the terms of the contract for deed, the only risk is <br />that the original owner will get the land back. <br />Mr. Hawkins explained that the City is purchasing 24 lots without <br />any improvements. If the City should sell a lot without <br />improvements, the City will pay Mr. Schilling $10,000.00. Mr. <br />Schilling will then provide a warrantee deed for the lot. If the <br />City decides to install the improvements the City can sell up to <br />15 lots. The City would have to pay for the improvements. This <br />would guarantee that the City has control over the development of <br />the Industrial Park for the next five (5) years. Mr. Hawkins <br />also noted that there is nothing in the purchase contract that <br />would prohibit the City from moving forward and developing and <br />selling the area before the five (5) year period expires. There <br />is no penalty for early retirement of the debt to Mr. Schilling. <br />Council Member Neal moved to purchase the Lino Industrial Park as <br />outlined by Mr. Hawkins and without the stipulations adopted by <br />the EDA. Council Member Reinert seconded the motion. <br />VOTING ON THE MOTION: <br />Bisel El <br />Neal <br />Abstained: None <br />Motion carried. <br />Bohjanen <br />Reinert El <br />Kuether <br />Mayor Bisel expressed concern regarding the City being involved <br />in the purchase of property for resale and competing with private <br />landowners who are also trying to sell their land. He also noted <br />that this property will be taken off the tax rolls until it can <br />be sold for development. Council Member Reinert said he felt <br />that the purchase was vital to opening the area for development <br />and for the installation of improvements. The end result will be <br />more tax base for the City and the area opened for other private <br />landowners to sell their property as well. Mayor Bisel asked <br />that everyone work together as a group and to not leave any <br />landowner out of the process. Council Member Bohjanen said he <br />could not vote for taking land away from private enterprise. <br />CONSIDERATION AND APPROVAL OF MINOR SUBDIVISION FOR HOKANSON <br />DEVELOPMENT COMPANY FOR LAND LOCATED ON BIRCH STREET NEAR 12TH <br />AVENUE, DRB APPLICATION NO. 91 - 57 <br />PAGE 3 <br />236 <br />