CC PACKET 12131988 - Laserfiche WebLink

Home Browse Search

I towards each tenant . relocation and what is anticipated would be paid 2 later. 3 A brief discussion of several items in the consultant's report preceded • 4 the following: 5 H.R.A. Action 6 Motion by Ranallo, seconded by Enrooth to accept the recommendations of 7 the Relocation Consultant to authorize the payment of $9, 342 .00 to cover 8 the immovable fixtures in the ACS Audio Warehouse Store. 9 Motion carried unanimously. 10 $60,000 Purchase Agreement for Triangular Parcel Approved With Changes 11 Mr. Soth indicated there were two changes in the agreement with Osborne 12 Properties in the agenda packet which he was recommending the H.R.A. 13 accept for the acquisition of the portion of the Town and Country Food 14 Store west parking lot which is needed for the Kenzington Apartments of 15 St. Anthony project. These were: 16 1 . that the property owners would not be required to provide an abstract 17 for the property because they needed to retain it for the grocery 18 store property and the City and the developer would- both -be covered 19 by title insurance; and 20 2. since the deed couldn't be executed in time to meet the County 21 deadline for splitting off property for tax purposes, the property 22 owner would pay property taxes-on- the- parce-1 payable in -1989 and the 23 H.R.A. would make an adjustment for that payments at the closing based 24 on square footage calculations of the triangular parcel. 25 The H.R.A. Attorney said Kraus Anderson was all ready to sign the 26 purchase agreement but the operative franchisee was holding up the final 27 execution. There was general surprise that a store owner whose business 28 would benefit so greatly from having the project up and rented would 29 be the one who would be holding up the procedures. Chair Sundland 30 indicated his intent to talk to him the following day. 31 H.R.A. Action 32 Motion by Marks, seconded by Makowske to adopt the resolution which 33 would approve the Purchase Agreement with Osborne Properties with the 34 changes recommended by the H.R.A. Attorney and to authorize the H.R.A. 35 Chairman and Secretary to sign the agreement as soon as Red Owl and the 36 Town and Country Store owners have executed their part of the 37 agreement. 2 •