HomeMy WebLinkAbout2019-019 CCRMember Ryan introduced the following resolution and moved its adoption:
RESOLUTION NO. 2019-019
RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A
LETTER OF INTENT TO PURCHASE 1350 SHINGLE CREEK CROSSING
WHEREAS, the City intends to acquire one parcel of land located at 1350 Shingle
Creek Crossing, in the City of Brooklyn Center, legally described as: Lot 5, Block 1, Shingle
Creek Crossing 5h Addition, County of Hennepin, State of Minnesota ("Property") for the
purposes of constructing a municipal liquor store; and
WHEREAS, the City is proposing to enter into a Letter of Intent ("LOI"), with
Shingle Creek, LLC (the "Seller") which is incorporated herein by reference, with the City
proposing to purchase the Property on the terns that include the following:
1. Purchase price of $680,000, which the City has exclusive negotiating rights
for a period of 30 days upon execution of the LOI to negotiate and finalize a
purchase agreement;
2. A credit of $90,000 to be given to the City at closing to compensate the City
for installing connections for water, sanitary sewer, and storm water to the
Property, completing final grading for the building on the Property and the
adjacent sidewalk area, and completing the parking lot in the area. Because
some of the parking lot is located on the Seller's adjacent property, the Seller
agrees to execute a temporary easement over its property at closing to allow
the City to complete the work.
3. All appurtenant easement rights (i.e. parking access, loading dock area, etc.)
and right to use the panels of all existing pylon signs;
4. The number of Metropolitan Council sewer availability charge (SAC) credits
necessary for the City's development of the Property; and
WHEREAS, the City and Seller both acknowledge and agree the terms of the LOI
are not binding, that the parties will instead proceed in good faith to negotiate the terms of a
binding purchase agreement for the sale of the Property.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, as follows:
1. The City Council hereby approves the LOI with the Seller regarding the
purchase of the Property.
2. The Mayor and City Manager are authorized to execute the LOI on behalf of
RESOLUTION NO. 2019-019
the City.
3. City staff and officials are authorized to negotiate the terms of a purchase
agreement with the Seller regarding the purchase of the Property and the
proposed purchase price for review and approval by the City Council.
January 28, 2019
Date
ATTEST:
City Clerk
Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Graves
and upon vote being taken thereon, the following voted in favor thereof:
Graves, Lawrence -Anderson, Ryan
and the following voted against the same:
Butler, Elliott
whereupon said resolution was declared duly passed and adopted.