03/24/1997 Council Minutes - Laserfiche WebLink

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• • • COUNCIL MINUTES MARCH 24, 1997 CONSIDERATION OF LAND PROPOSAL IN THE "VILLAGE", BRIAN WESSEL Consideration of Land Contract, Phase I, "Village" - Mr. Wessel explained City staff has been negotiating with Glenn Rehbein for the purchase of a 13.6 acre parcel within the Village. This parcel will enable the City to respond to community needs by controlling the content, quality and pace of development of Phase I of the Master Plan for The Village. Mr. Wessel stated the purchase is on a contract for deed basis similar to the contract for deed the City entered into in the Apollo Business Park which was paid off last year. He continued by explaining the purchase agreement calls for purchasing the land on a 5 -year term with a 30% down payment and the remaining principal and interest due at the end of the term. Mr. Wessel concluded by stating like the Apollo Business Park, the land will be released from Glenn Rehbein as it is sold for development. Mr. Wessel stated he is asking the Council to approve the land contract and authorize the Mayor and City Clerk to execute the purchase agreement. Council Member Kuether expressed confusion with the wording on the first page indicating the 'city can pre -pay without penalty.' Mr. Wessel explained the City can choose to pre -pay, if desired. He said this is not at the request of Mr. Rehbein and is exactly as how things were done with the Apollo Business Park. Council Member Kuether asked if the two statements regarding assessments were conflicting. Mr. Wessel stated they are not and verified that Mr. Rehbein will pay for the water and sewer assessments up through the end of this year. Council Member Kuether then inquired if the assessments are going to be pro -rated. Mr. Wessel stated all assessments that are put together this year are to be the responsibility of Mr. Rehbein, but future improvements as the site develops will be the City's responsibility. Council Member Kuether asked about the amount being assessed to Mr. Rehbein. Mr. Wessel stated, with verification by Mr. Ahrens, that his assessments are in the range of a couple hundred thousand dollars. Council Member Kuether then stated for clarification that Mr. Rehbein is going to pay to get services to the project and the City will pick it up at that point. Mr. Ahrens stated that is correct. Mayor Landers verified that Mr. Rehbein's responsibility will be on the east and west side of Lake Drive (County Road #23), where the City's responsibility is only on the east side. Mr. Ahrens confirmed this statement. Council Member Bergeson stated that this proposal was reviewed by the Economic Development Authority Advisory Board (EDAAB) and endorsed by them. They are recommending approval by the Council. Council Member Bergeson moved to approve the Land Contract, Phase I, and execution of the purchase agreement. Council Member Neal seconded the motion. Motion carried unanimously. PAGE 6