HomeMy WebLinkAboutItem 06.oOctober 15, 2018 Item No.________
AMENDMENT TO THE AGREEMENT FOR THE PURCHASE OF REAL PROPERTY
LOCATED AT 16715 FLAGSTAFF AVENUE
Proposed Action
Staff recommends adoption of the following motion: Adopt a resolution to approve an amendment
to the previously approved purchase agreement for the property located at 16715 Flagstaff Avenue.
Approval of this amendment will allow the closing on the acquisition of the property located at 16715
Flagstaff Avenue to no later than November 6, 2018 and the rent back of the property to be extended
to no later than November 30, 2018.
Overview
The City Council has approved a Joint Powers Agreement with Dakota County on March 19, 2018 for
the construction of a roundabout at the intersection of Dodd Boulevard and Flagstaff Avenue. The
agreement calls for the required property acquisition be completed by the City with the County
reimbursing the City with their 55% cost share.
On September 4, 2018, the City Council approved a purchase agreement for the single-family home
located at 16715 Flagstaff Avenue for $280,000. The scheduled closing date in the original purchase
agreement was to take place on or before September 27, 2018 and included a rent-back period of 10
days. The property owners have requested that the closing date be extended to no later than
November 6, 2018 and that the rent back agreement be extended to November 30th to allow
additional time to close on their replacement home and complete the move to this property.
The financial terms of the agreement are unchanged. The Popes are also entitled to business
relocation and re-establishment expenses for their home-based business and actual moving costs as
well as closing costs on their new home under the Uniform Relocation Act. City and County staff
recommend approval of this purchase agreement amendment.
Primary Issues to Consider
• What is the proposed funding source for this acquisition? The project as identified in the
adopted 2018-2022 Capital Improvement Plan and is proposed to be financed from the
Municipal State Aid Street funds.
Supporting Information
• Signed Purchase Agreement Amendment
David L. Olson, Community and Economic Development Director
c: Zach Johnson, City Engineer; Brian Sorenson, Asst. County Engineer
Financial Impact: $ 280,000________Budgeted: Y/N _Y___ Source: __MSA and County Funds_____
199004v1
CITY OF LAKEVILLE
DAKOTA COUNTY, MINNESOTA
RESOLUTION NO. _____
RESOLUTION APPROVING AN AMENDMENT TO AN AGREEMENT FOR THE
ACQUISITION OF REAL PROPERTY
WHEREAS, the City Council previously approved a Purchase Agreement to acquire certain
property ("Property") between the City of Lakeville (“Buyer”) and Timothy R. Pope and Sandra B.
Pope (“Sellers”);
WHEREAS, Buyer and Sellers propose to amend the previously approved agreement to
change the closing date to no later than November 6, 2018 and agree to a new Rent Back Agreement
attached as Exhibit “B” to allow the Sellers to rent back the Property from the Buyer until November
30, 2018.
NOW, THEREFORE, BE IT RESOLVED by t he City Council of the City of Lakeville:
1. The Mayor, City Administrator, and City Clerk are authorized and directed to execute all
documents, and take all appropriate measures to convey the Property under the terms of the Purchase
Agreement as amended.
ADOPTED this _______ day of _____________, 2018, by the City Council of the City of
Lakeville.
CITY OF LAKEVILLE
BY: _______________________________
Douglas P. Anderson, Mayor
ATTEST:
______________________________
Charlene Friedges, City Clerk