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CITY OF LINO LAKES <br />RESOLUTION NO. 03-135 <br />AUTHORIZING A REAL ESTATE PURCHASE AGREEMENT <br />WITH LEGACY HOLDINGS LINO LAKES, LLC <br />WHEREAS, approximately 11 acres of property in the southeast quadrant of the I-35W/Lake <br />Drive interchange (the "Property") identified in Attachment A is owned by the City of Lino <br />Lakes (the "City"); and <br />WHEREAS, the property is not needed by the City for any public purpose and it is the City's <br />intent to sell the property for development; and <br />WHEREAS, the Lino Lakes Comprehensive Plan guides the Property for mixed-use; and <br />WHEREAS, Legacy Holdings Lino Lakes, LLC (the "Developer") has proposed a mixed-use <br />development on the property. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes as <br />follows: <br />1. The Mayor and City Clerk are hereby authorized and directed to execute the Real Estate <br />Purchase Agreement and other appropriate documents to facilitate sale of the Property to the <br />Developer. <br />2. Staff and consultants are hereby authorized and directed to take any and all other steps <br />necessary or convenient in order to accomplish the conditions of the Real Estate Purchase <br />Agreement. <br />Dated: August 25, 2003. <br />ATTEST: <br />Ann Blair, Clerk <br />9v -A <br />John Bergeson, Mayor <br />