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 Paul:
1. that upon the recommendation of City staff and following the Council's budget approval in RES PH 23-23, funds to acquire the Property in the amount of $375,314.00 plus closing costs are available for appropriation;
2. that the purchase price for the Property of $375,314.00 is hereby approved, and that the proper City officials are authorized and directed to execute the Agreement, subject to approval by the City Attorney’s Office;
3. that the proper City officials are authorized to take all actions necessary to carry out the activities authorized by this resolution, including finalizing and executing all documents and agreements, subject to approval by the City Attorney’s Office;
4. that the proper City officials are authorized to prepare and enter into any required no-fee construction easement agreement(s) in favor of the City that may be needed in connection with the City’s infrastructure construction on the Property, subject to approval by the City Attorney’s Office; and
5. that this resolution does not constitute a binding legal agreement; rather, the action taken herein shall not be effective until said documents are executed by the proper City officials.