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CASE # I.03 <br />INTRODUCE ORDINANCE FOR SALE OF CITY OWNED PROPERTY IN <br />RIVER'S BEND PLAZA 3RD ADDITION <br />By: William K. Goodrich, City Attorney <br />Background: <br />As the City Council is aware, the then City Council in February, 2006 approved a purchase <br />agreement with Rivers Bend Holdings, LLC for the sale of certain real property in Government Lots <br />3 and 6, Section 36, Township 32, Range 25. A copy of the referenced purchase agreement is <br />attached for your review. A review of Council minutes reveals that the mandatory sale ordinance <br />for the parcel has never been adopted by the City Council. Therefore, that sale ordinance is now <br />being presented to the City Council for introduction and then adoption at a subsequent meeting. For <br />your information, if the sale ordinance is adopted, it does not become effective for 30 days after <br />publication during which time, as with any City ordinance, citizens may petition to have a <br />referendum on whether or not the ordinance is to take effect. <br />Enclosure: <br />Proposed Sale ordinance <br />February, 2006 Purchase Agreement <br />Map showing Subject Property <br />Recommendation: <br />Pursuant to City Council discussion. <br />Funding Source: <br />N/A <br />Council Action: <br />Motion to introduce ordinance 10 -XXX which is an ordinance authorizing the sale of the property <br />legally described as (see attached Exhibit A) and which real property is being platted as Outlot B, <br />River's Bend 5'J' Addition, Anoka County, Minnesota. <br />Reviewed by: <br />City Administn <br />CC: 08/24/1 <br />