Laserfiche WebLink
LA515\146\1012182.v1 <br /> STAFF REPORT <br />DATE: 3/4/25 <br /> Consent <br /> <br /> <br />TO: Mayor and City Council for Lake Elmo <br />FROM: Clark Schroeder Special Projects <br />AGENDA ITEM: Olson Property – First Amendment to Purchase Agreement <br />REVIEWED BY: Sarah Sonsalla, City Attorney <br /> <br />BACKGROUND: <br />On January 10, 2025, the City entered into a Purchase Agreement with Fonda Olson to purchase her <br />property in order for it to be part of a sports complex for the City. As you may recall, the City is only <br />purchasing a portion of the Olson property. The remainder of the property will be retained by Fonda <br />Olson and conveyed by her to her son, who owns the adjacent property. The property needed to be <br />surveyed so that the exact legal description of the property that the City is buying could be ascertained. <br />The survey has been completed. The Purchase Agreement is being amended in order to insert this legal <br />description into the Purchase Agreement. <br /> <br />ISSUE BEFORE COUNCIL: <br />Council needs to amend the Purchase Agreement to reflect the exact legal description of the property the <br />City will be buying before closing on the Olson property. <br /> <br />PROPOSAL DETAILS/ANALYSIS: <br />See the attached Resolution Approving the First Amendment to Purchase Agreement, the First Amendment <br />to Purchase Agreement, and the Purchase Agreement. <br /> <br />FISCAL IMPACT: <br />None beyond the Purchase Agreement which was already approved by the City Council. <br /> <br />OPTIONS: <br />Approve or deny the First Amendment to Purchase Agreement. <br /> <br />RECOMMENDATION: <br />If removed from the Consent Agenda: <br /> <br />Move to adopt Resolution Number 2025-020 approving the First Amendment to Purchase Agreement. <br /> <br />ATTACHMENTS: <br />Purchase Agreement <br />First Amendment to Purchase Agreement <br />Resolution Approving First Amendment to Purchase Agreement