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CAS # lg <br /> <br />INTRODUCTION OF AN ORDINANCE <br />AUTHORIZING THE SALE OF LOT 3, BLOCK 1, <br />GATEWAY NORTH INDUSTRIAL PARK NO. 5, <br />ANOKA COUNTY, MINNESOTA <br /> <br />By: William K. Goodrich, City Attorney <br /> <br />Background: <br /> <br />The City has received a letter of intent from W Properties, LLC to purchase Lot 3, Block 1, <br />Gateway North Industrial Park No. 5 and construct a building at a later date. Negotiations are <br />cun'ently under way and Staff' will bring the Development Agreement to the City Council for <br />approval. As a part of the proposed transaction, the city is to convey title to Lot 3, Block l, <br />Gateway North Industrial Park No. 5 to W Properties, LLC. In order to complete this transaction a <br />sale ordinance needs to be introduced and adopted authorizing the sale. <br /> <br />Enclosure: <br /> <br />Proposed ordinance. <br /> <br />Recommendation: <br /> <br />Introduction of the proposed ordinance. <br /> <br />Council Action: <br /> <br />Motion to introduce Ordinance No. 03- which is an ordinance authorizing the sale of Lot 3, <br />Block 1, Gateway North Industrial Park No. 5. <br /> <br />Review Checklist: <br /> <br />City Administrator <br />Economic Development/TIF Specialist <br /> <br />-289- <br /> <br /> <br />