HomeMy WebLinkAbout1995-219
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RESOLUl10N NO. 95-219
A RESOLUl10N AUTIlORlZlNG CITY STAFF TO
NEGOTIATE A PURCHASE AGREEMENT FOR THE PURCHASE
OF APPROXIMATELY SIX (6) ACRES FOR THE
RELOCATION OF COWNlAL CRAFT TO THE CITY
WHEREAS, by previous authority of the City Council, the City presented to Colonial Craft a
proposal to relocate Colonial Craft from its present site in Roseville, Minnesota to a site in the industrial
park; and,
WHEREAS, the site is located in Tax Increment Financing District No. I, commonly known as
the Downtown and Scattered Site District; and,
WHEREAS, in order to make the relocation of Colonial Craft to the City feasible, the City has
determined that it would be necessary to acquire a site within the industrial park and make it available
for Colonial Craft with the expectation that the funds expended on the purchase would be paid back to
the City out of a portion of the Tax Increment generated by the construction of the new site over the
remaining life of the Tax Increment District; and,
WHEREAS, in order to effectuate the plan, it would be in the best interest of the City to
negotiate with Prime Site, Incorporated through its agent, Randall Company for the purchase of real
property consisting of Lots I, 2, 3, and a portion of Lot 4, all in Block I, Prime Site Subdivision.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
I. That the City Attorney and Community Development Director proceed to negotiate with
Prime Site, Incorporated through its real estate agent, Randall Company towards the purchase of the real
property described in this foregoing Resolution upon the best terms available to the City and that they
are further directed to prepare a necessary Purchase Agreement and other documents for approval by the
City Council.
Enacted by the City Council this 3rd day of October, 1995. . 'K~
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ATIEST:
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