Title
Approving a purchase agreement to convey City-owned land adjacent to the East Metro Transit Facility to the Minnesota Department of Transportation for its I-35E/Cayuga project and accepting payment for the land.
Body
WHEREAS, the Minnesota Department of Transportation ("MnDOT") is finalizing acquisition of highway right-of-way for its planned I-35E/Cayuga project; and
WHEREAS, a portion of the right-of-way required for the project is located on a 6.5-acre parcel of land adjacent to the Metropolitan Council’s East Metro Transit Facility (the “Facility”) located along Mississippi Street between Phalen Boulevard and Case Avenue (the "City Parcel"), as depicted in Exhibit A attached hereto; and
WHEREAS, as part of the land acquisition and construction of the Facility approximately 10 years ago, the City of Saint Paul (the "City") assisted in the acquisition and relocation of property within the Facility site, and in March, 2000 entered into a Cooperation Agreement with MnDOT and the Met Council to identify actions and responsibilities for assembling land needed for the Facility and MnDOT's I-35E/Cayuga project; and
WHEREAS, under said Agreement the City purchased land, relocated tenants and eventually exchanged land with the Met Council to provide for the Met Council's full ownership of the Facility site and the City's ownership of the City Parcel; and
WHEREAS, MnDOT now desires to purchase the City Parcel at a value established by an independent real estate appraisal, which appraisal has been reviewed and accepted by the Office of Financial Services Real Estate Section; and
WHEREAS, the City wishes to sell said City Parcel, at the negotiated price of $2,039,368.81, and in accordance with the terms and conditions of the Offer to Sell and Memorandum of Conditions, ("Purchase Agreement") attached hereto as Exhibit B; now, therefore be it
RESOLVED, that the Mayor and Council of the City of Saint Paul hereby approve said Purchase Agreement and authorize the...
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