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• <br />COUNCIL MINUTES <br />OCTOBER 8, 2001 <br />Consideration of Marketplace Development Agreement, Michael Grochala — Community <br />Development Director Grochala advised the development contract between the City of Lino Lakes <br />and Ryan Companies outlines the rights and responsibilities of each party. Included in the contract is <br />a purchase agreement between the two parties for the sale of the "remnant" parcel that the City plans <br />to acquire from JADT. The contract and purchase agreement have been reviewed by the City <br />Attorney. <br />Staff recommended approval of the Development Contract and authorization to execute by the Mayor <br />and City Clerk. <br />Councilmember Carlson clarified her earlier concern that no dollar arra <br />as a disbursement; this change of order should rectify any confusion <br />Director Grochala concurred. <br />Councilmember O'Donnell moved to approve the Marketpla <br />City of Lino Lakes and Ryan Companies. Councilmembe <br />carried unanimously. <br />as present to be passed <br />Development <br />ent Agreement between the <br />ded the motion. Motion <br />FIRST READING, Ordinance No. 18 — 01, Sale of ' o Ryan Companies, Michael <br />Grochala — Community Development Director Poadvised the City is purchasing a parcel of <br />land from JADT Development Group as part ofdtransaction to acquire access into the Marketplace <br />development on I -35W and Lake Drive. A r . arc of 0.9 acres will result from the <br />construction of Apollo Drive to serve the ► _ _, etpl c evelopment. <br />Ryan Companies, the developer of M s to purchase this parcel from the City and <br />incorporate it into the Marketplace <br />According to the City Charter ° .. ®.. the City must be sold by ordinance. An ordinance <br />requires two (2) readings, • en be es ; ctive 30 days after publication. <br />City Attorney Haw; ` 5 fled +rdinance requires a second reading and a thirty (30) day period <br />of notice. <br />Councilmember Carlso ked that the price of $167,258 be placed within the ordinance since that <br />amount is now known. : Attorney Hawkins stated that amount would be placed in the second <br />paragraph of the ordinance. <br />Councilmember Carlson moved to approve FIRST READING, Ordinance No. 18 — 01, with the stated <br />inclusion. Mayor Bergeson seconded the motion. <br />Councilmember Reinert voted yea. Acting Mayor Dahl voted yea. Mayor Bergeson voted yea. <br />Councilmember Carlson voted yea. Councilmember O'Donnell voted yea. <br />Motion carried unanimously. <br />11 <br />