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I <br /> <br />I <br /> <br />I <br />I <br /> <br /> I <br /> <br /> I <br /> I <br /> <br /> i <br /> <br />CASE <br /> <br /> ADOPTION OF ORDINANCE <br /> AUTHORIZING THE SALE OF <br /> LOTS 1 AND 2, BLOCK 1, <br />GATEWOOD NORTH INDUSTRIAL PARK NO. 5, <br />ANOKA COUNTY, MINNESOTA <br /> <br />By: William K. Goodrich, City Attorney <br /> <br />Background: <br /> <br />On December 19, 2000, the Council approved a TIF Agreement with T & G Land, Inc., a <br />Minnesota Corporation, whose President is Tom Sauter, The Tm Agreement requires the transfer <br />of an approximate 18 acre parcel of land acquired as a part of the Makens condenmation to T & G <br />Land, Inc. The majority of the Makens property comprising GATEWAY NORTH INDUSTRIAL <br />PARK NO. 5 has now been platted into four lots. Lots 1 and 2, Block 1, comprise the 18 acres to be <br />transferred to T & G. <br /> <br />Fee title to Lot 1 is to be conveyed to T & G now and the City is granting an option to buy Lot 2, <br />Block 1 to T & G for future transfer upon certain terms and conditions. <br /> <br />The sale ordinance was introduced for the sale of the two lots on March 13, 2001. The ordinance is <br />now eligible for adoption. <br /> <br />Enclosure: <br /> <br />Proposed ordinance. <br /> <br />Recommendation: <br /> <br />Adoption of the proposed ordinance. <br /> <br />Council Action: <br /> <br />Motion to adopt Ordinance 01-__ which is an ordinance author/zing the sale of Lots 1 and 2, <br />GATEWAY NORTH INDUSTRIAL PARK NO. 5. <br /> <br />Review Checklist: <br /> <br />City Administrator <br /> <br />-109- <br /> <br /> <br />