05/13/1991 Council Minutes - Laserfiche WebLink

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136 COUNCIL WORK SESSION CITY OF LINO LAKES COUNCIL MINUTES MAY 13, 1991 DATE May 13, 1991 TIME STARTED : 5:30 P.M. TIME ENDED • 6:30 P.M. MEMBERS PRESENT: Bisel, Bohjanen, Kuether, Neal, Reinert MEMBERS ABSENT : None City Engineer, Darrell Schneider; Public Works Director, Don Volk; Administrator, Randy Schumacher and Clerk - Treasurer Marilyn Anderson were also present. SCHILLING INDUSTRIAL PARK AND ROAD SYSTEM Mr. Schilling has sent a letter to the City offering to sell to the City the Lino Industrial Park. The Lino Industrial Park is approximately 36 acres and Mr. Schilling is asking $300,000.00 to be paid within the next seven (7) years at about 10% interest. The selling price would be approximately $8,300.00 per acre or 19 cents per square foot. Mr. Schneider calculated the cost of improving the Industrial Park with street and municipal water and sanitary sewer. The total cost would be about $489,000.00. In addition drainage ponds would be constructed. Total cost of the land and improvements could be about 70 cents to 75 cents per square foot. Mr. Schumacher had researched the cost of land in other industrial parks in Anoka County. He presented this information to the Council. It was noted that land costs vary and this is due to the number and kind of incentives offered by each city in which the industrial park is located. Mr. Schumacher also noted that if the City were to purchase Mr. Schillings property, the City would have control of the amount and type of development. The City could use some MSA funding for streets and TIF for installation of sewer and water lines. The City probably would have more flexibility in development of the property than a private person or company. Mr. Schneider noted that most large commercial developers are looking at basically getting the land free of charge. Mr. Schneider presented a map showing a different street system PAGE 1 1 1 1