2000.03.20 CC Minutes - Laserfiche WebLink

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City Council meeting of March 20, 2000 Page 5 property owners when the City is specifically interested in acquiring their property for parks purposes. 2. Any discussions with private property owners, regarding the purchase of their property by the City, will only be undertaken with specific authority of the City Council. All aye. Motion Carried. PURCHASE AGREEMENT (REHBEIN) The Council considered a Purchase Agreement, between the City of Hugo and RR Leasing, Inc., for the City's acquisition of four (4) acres of wetlands mitigation credits to be used in the development of the Bald Eagle Industrial Park. Under the Agreement, the City would purchase the four acres for $100,000, with $15,000 earnest money payable upon execution of the Agreement, and three subsequent partial payments, the last of which to be made when final approval of the project is provided in writing from the relevant governmental agencies: namely, Anoka County Soil and Water Board; RCWD; and the Board of Soil and Water Resource. Funding for this acquisition would be made as part of the permanent financing for the Park's improvements, and paid for through the sale of the property in the Park. Under the proposed mitigation plan, the City would be allowed to fill 3.91 acres of type 2 wetland in the industrial park for industrial development. Barnes made motion, Haas seconded, to approve the Purchase Agreement between the City of Hugo and RR Leasing, Inc., for the acquisition of four acres of wetlands mitigation credits to be used in the development of the BEIP. Approval is subject to approval of the proposed plan by the relevant regulatory agencies. All aye. Motion Carried. SALES LIST AGREEMENT (GREYSTONE) The Council reviewed a non-exclusive Sales Listing Agreement, between the City of Hugo and Greystone Real Estate Group, Inc. Greystone is representing an industrial client, potentially interested in purchasing property in the Industrial Park. The Agreement would specify that the City would pay the realtor 10% of the gross sale price, upon transfer of the fee title of the property to a qualified buyer. The 10% brokerage fee would be added on to the sale price of the property in such a manner as to reduce the tax increment financing benefit being provided to a potential buyer. Leroux made motion, Barnes seconded, to approve the Sales List Agreement. Motion and second were withdrawn. Barnes made motion, Leroux seconded, to table discussion until a revised Agreement is provided. All aye. Motion Carried. INDIVIDUAL SEWAGE TREATMENT SYSTEM AGREEMENT (WASH. COUNTY) The Council considered a revised Agreement, between the City of Hugo and Washington County, to provide individual treatment system management program. The City previously drafted and submitted to the County a proposed Agreement. The County objected to the City's including a clause