Resolution No. 95-11 EDA - Laserfiche WebLink

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Member Kuether introduced the following resolution and moved its adoption: LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION 95-11 RESOLUTION AUTHORIZING THE EDA TO ENTER INTO A PURCHASE AGREEMENT WITH ANOKA COUNTY FOR 6508 HODGSON ROAD WHEREAS, Anoka County has claim to real property at 6508 Hodgson Road in Lino Lakes through a 1989 forfeiture procedure governed by federal statutes; WHEREAS, Anoka County has offered to sell the property to the City of Lino Lakes for its fair market value of $61,400; WHEREAS, the property is zoned General Business and a commercial use would serve the best interests of the community; NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development Authority as follows: 1. Staff and City Attorney are hereby authorized and directed to enter into a purchase agreement with Anoka County for the purchase of the property at the fair market value of $61,400; 2. Staff and City Attorney are authorized and directed to commence the legal proceeding to register title to the City of Lino Lakes through Anoka County District Court with legal costs prorated among benefitting agencies. 3. Staff and City Attorney are authorized and directed to include in the purchase agreement terms which would require refund of the purchase price by Anoka County if the City is unable to successfully register title; and any and all protections deemed necessary to safeguard the interests of the City of Lino Lakes.