Title
Authorizing the City to enter into a land sale and purchase agreement between 115 Plato, LP, a Minnesota limited partnership, as seller, and the City, as buyer, to acquire a triangular parcel of vacant land adjacent to 115 Plato Boulevard (District 3, Ward 2).
Body
WHEREAS, the City of Saint Paul, Minnesota (“City”) is a home rule charter city organized and existing under the laws of the State of Minnesota; and
WHEREAS, under RES PH 23-23 the Saint Paul City Council approved the establishment of the Water Street Special Sanitary Availability Connection Charge District (the “District”) and approved certain SAC fees and adopted a budget to pay the costs incurred by the City in connection with improving sewer capacity and related infrastructure improvements, including acquisition of property (collectively, the “Improvements”); and
WHEREAS, in connection with the construction of the Improvements, the City desires to acquire from 115 Plato, LP a certain triangle shaped parcel of real property (the “Property”) from a larger lot at 115 Plato Boulevard, which Property is legally described and depicted in Exhibit A accompanying this resolution, for the City's installation of the Water Street sanitary capacity improvements project, including the construction of a new City sanitary pump station, all to accommodate additional sanitary flows from proposed and future developments in the District; and
WHEREAS, based upon an independent appraiser’s area value estimate and City staff negotiations, a market value purchase price for the Property was determined to be $375,314.00; and
WHEREAS, staff in the Office of Financial Services Real Estate Section have prepared an Agreement for Sale and Purchase of Real Property, Exhibit B to this resolution ("Agreement"), that reflects said purchase price and closing cost provisions, and the Office of City Attorney has approved the Agreement as to form; now, therefore, be it
RESOLVED by the City Council of the City of Saint...
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