Laserfiche WebLink
CITY OF LAKE ELMO <br />WASHINGTON COUNTY <br />STATE OF MINNESOTA <br />RESOLUTION NO.2021-067 <br />A RESOLUTION APPROVING A REAL ESTATE SALE CONTRACT WITH <br />NORTHPOINT DEVELOPMENT, LLC FOR THE SALE OF THE FORMER 3M <br />PROPERTY (A PORTION OF TAX ID 16.029.21.24.0002) <br />WHEREAS, the City of Lake Elmo (the "City") is the owner of that certain real property <br />comprising approximately 75 acres located at Ideal Avenue, South of CSAH 14, Lake Elmo, <br />Washington County, Minnesota (a portion of Tax ID 16.029.21.24.0002), commonly referred to <br />as the "former 3M property" (the "Property"); and <br />WHEREAS, NorthPoint Development, LLC ("NorthPoint") has offered to purchase the <br />Property from the City for $9,200,000; and <br />WHEREAS, the City and NorthPoint desire to enter into a purchase agreement, pursuant to <br />which the City will convey the Property to NorthPoint; and <br />NOW, THEREFORE, BE IT RESOLVED, <br />1. That the City Council hereby approves the Purchase Agreement in substantially the <br />form presented to the City Council, subject to modifications that do not alter the <br />substance of the transaction and that are approved by the Mayor and City Clerk, <br />provided that execution of the Purchase Agreement by those officials shall be <br />conclusive evidence of their approval. <br />2. City officials, staff, and consultants are authorized to take all actions necessary to <br />perform the City's obligations under the Purchase Agreement as a whole, including <br />without limitation, execution of any documents to which the City is a party referenced <br />in or attached to the Purchase Agreement, and of any deed or other documents <br />necessary for the Property to be conveyed by City to NorthPoint, all as described in the <br />Purchase Agreement. <br />ADOPTED BY THE LAKE ELMO CITY COUNCIL ON 15TH DAY OF DUNE, 2021. <br />(Seal) <br />EST: <br />1' Johns n <br />ty Clerk <br />CITY OF LAKE ELMO <br />10-1 N-Warle-sr den -head <br />IM.�, <br />Mayor <br />LA515- l-727314.v 1 <br />