HomeMy WebLinkAbout90-045 t
• CITY OF LAKEVILLE
DAKOTA COUNTY., MINNESOTA
RESOLOTION
Date April 16,.1990 Resolution No. 90-45
Motion By Lynette Mulvihill Seconded By Patrick G. Harvey
RESOLIITION AIITHORIZING THE CITY TO
ENTER INTO AN OPTION AGREEMENT FOR
THE SALE OF CITY PROPERTY
WHEREAS, MJC Development, Inc. ("Developer"), a Minnesota
corporation, has requested that the City enter into an Option
Agreement for the sale of certain City owned land to it; and
WHEREAS, the purchase price proposed by the City is Twelve
Thousand Five Hundred and 00/100 Dollars ($12,500.00) per acre; and
• WHEREAS, the City has obtained an estimate of value from an
appraiser that the property is worth in excess of Twenty Thousand and
00/100 Dollars ($20,000.00) per acre; and
WHEREAS, the Developer has represented to the City that in
addition to receiving Twelve Thousand Five Hundred and 00/100 Dollars
($12,500.00) per acre for the property the community will also
receive:
1. An indoor ice arena.
2. A football field suitable for playing high school
football.
3. The positive tax and economic benefits set forth on
Exhibit "A", which is attached hereto.
WHEREAS, the City would not consider selling the property for
Twelve Thousand Five Hundred and 00/100 ($12,500.00) per acre without
•
• the additional benefits the Developer has represented the City will
receive; and
WHEREAS, the Developer has agreed to reconvey the subject
property to the City if the development is not constructed; and
WHEREAS, the parties understand that by agreeing to the
Option, the City is giving absolutely no indication that it will
approve the proposed development.
NOW, THEREFORE, BE IT RESOLVED by the Lakeville City Council:
1. The Option Agreement between the City and MJC Develop-
ment, Inc. is approved.
2. The Mayor and City Clerk are authorized and directed to
sign the Option Agreement.
ADOPTED this 16th day of April, 1990, by the City Council of
• the City of Lakeville.
CITY OF LAKEVILLE
BY :
Duane R. Zaun, ayor
TEST:
Charlene Friedges, City lerk
•
-2-
y ~ ~ .
~ V ' V p,
~ 0 ',p 4 `qo C
~
~ ~ ~
" :7 _
. ~
t; ~ ~ '
o ~ G G o: p' p:
s
a ~ ~ i
il
4. o :
4 0 ~ D ~ d; ; p~ 4 a; q ~ H
' ~ ~ J Q ~ R1 Q Q• 1 Q ~ ~ Q
V 1 f'1 :'1 ~ /r ~ W
1 ~ r o 'a sa Irs p
a ~
G
M -
t -
C'~ '
W - ~
. N i O ,Z U
. ?C 1 ~ 11~ .ti ~ --1
~ . ~ ~ ~ _
o ~ ~
~ ~
cn t~ ! ~ It t ~
c ~ 1 e
o ~ ~ ~
1'3 t- ~ ~ -
~ ~ ~ i ~ a I ~ ~ 1 1 R~~!
m ~ a ~