Agenda - Council - 06/08/2021 - Laserfiche WebLink

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CC Regular Session 5. 11. Meeting Date: 06/08/2021 By: Sean Sullivan, Community Development Information Title: Adopt Resolution #21-154 Approving Donation Agreement and Acquisition of Outlot A, Harvest Estates Purpose/Background: Consider Adoption of Resolution #21-154 Approving Donation Agreement and Acquisition of Outlot A, Harvest Estates. GS Land LLC (Donor) has offered to donate Outlot A, Harvest Estates (the "Property") to the City. The property is currently being used as a stormwater pond and ownership would be a benefit to the City. Costs to be incurred by the City to acquire the Property are estimated to be $1000 or less. Anoka County has assigned a tax valuation of $1000.00. Staff has consulted with City Engineer Bruce Westby and he affirms that ownership would be a benefit to the City. Staff has consulted with the City Attorney and an Environmental Phase 1 ESA is not required or recommended. Notification: N/A Time Frame/Observations/Alternatives: Staff is generally supportive of accepting the donation of the Property and paying for the acquisition costs as presented in the Donation Agreement. The City will order a Title Commitment as part of this process to determine if there are issues with the title that would cause the City to pause in its acquisition. Below are some key terms of the the Donation Agreement: Legal Description: Outlot A, Harvest Estates Tax ID Number: 23-32-25-44-0057 Acreage: =/- 1.17 acres Property Taxes: $14.26 (Annual) Sales Price: $0.00 Property to be donated Closing Date: On or before August 31, 2021 Closing Costs: (Estimated to be $1000 or less and are highlighted below): Closing costs. i. At Closing, the following Donor closing costs and expenses must be paid by the Donor: 1. Donor's portion of the property taxes prorated to the date of Closing. 2. Donor's own attorney's fees. ii. At Closing, the City must pay the following costs and expenses: 1. City's portion of the property taxes prorated to the date of Closing. 2. City's own attorney's fees. 3. Closing fees, if any. 4. Documentary and recording fees for the deed. 5. State deed tax. 6. Cost of title commitment and owner's title insurance policy.