HomeMy WebLinkAbout2021-067CITY OF LAKE ELMO
WASHINGTON COUNTY
STATE OF MINNESOTA
RESOLUTION NO.2021-067
A RESOLUTION APPROVING A REAL ESTATE SALE CONTRACT WITH
NORTHPOINT DEVELOPMENT, LLC FOR THE SALE OF THE FORMER 3M
PROPERTY (A PORTION OF TAX ID 16.029.21.24.0002)
WHEREAS, the City of Lake Elmo (the "City") is the owner of that certain real property
comprising approximately 75 acres located at Ideal Avenue, South of CSAH 14, Lake Elmo,
Washington County, Minnesota (a portion of Tax ID 16.029.21.24.0002), commonly referred to
as the "former 3M property" (the "Property"); and
WHEREAS, NorthPoint Development, LLC ("NorthPoint") has offered to purchase the
Property from the City for $9,200,000; and
WHEREAS, the City and NorthPoint desire to enter into a purchase agreement, pursuant to
which the City will convey the Property to NorthPoint; and
NOW, THEREFORE, BE IT RESOLVED,
1. That the City Council hereby approves the Purchase Agreement in substantially the
form presented to the City Council, subject to modifications that do not alter the
substance of the transaction and that are approved by the Mayor and City Clerk,
provided that execution of the Purchase Agreement by those officials shall be
conclusive evidence of their approval.
2. City officials, staff, and consultants are authorized to take all actions necessary to
perform the City's obligations under the Purchase Agreement as a whole, including
without limitation, execution of any documents to which the City is a party referenced
in or attached to the Purchase Agreement, and of any deed or other documents
necessary for the Property to be conveyed by City to NorthPoint, all as described in the
Purchase Agreement.
ADOPTED BY THE LAKE ELMO CITY COUNCIL ON 15TH DAY OF DUNE, 2021.
(Seal)
EST:
1' Johns n
ty Clerk
CITY OF LAKE ELMO
10-1 N-Warle-sr den -head
IM.�,
Mayor
LA515- l-727314.v 1