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lic(momic Dcvclopment/TIF Specialist Sullivan replied the waiver is not likely an iron clad <br />defense, but the owner is willingly waiving the right to relocation. <br /> <br />(',ouncihncmber Elvig questioned if the total purchase cost with the clean-up could go to <br />$415,000. <br /> <br />t,;conomic Development/TIF Specialist Sullivan replied the clean-up costs could be an additional <br />$300,000 on top of the $315,000 purchase price. It should be noted this owner would only be <br />responsible fbr approximately $70,000 worth of clean-up on the site, and the City would go <br />above and beyond that to ensure that the site is more marketable to a use that may be cleaner. <br />ri'his site consists of 1.5 acres right in the heart of the City's redevelopment area. It lies within <br />ri'IF District No. 2, and these TIF districts are created to utilize the funds for these types of <br />proj cots. <br /> <br />Motion by Councilmember Cook, seconded by Councilmember Strommen, to approve the <br />Purchase Agreement and acquire 14050 Azurite Street NW. <br /> <br />Further discussion: Councilmember Elvig stated this purchase requires a large amount of <br />fm~ds, but it completes an enormous project for the City and is in a TIF district. Councilmember <br />Pearson inquired about the possibility of the clean-up costs going above what is anticipated. <br />l:,conomic I)evclopment/TIF Specialist Sullivan replied TIF District No. 2 has enough funds to <br />pay lbr costs above and beyond the estimate. There is a Response Action Plan in place that has <br />been approved by the Minnesota Pollution Control Agency, which is fairly clear on what must be <br />donc~ 'I'hc budget for TIF District No. 2 includes approximately $800,000 of unexpended funds. <br /> <br />Motion carried. Voting Yes: Mayor Oamec, Councilmembers Cook, Strommen, Elvig, and <br />Pearson. Voting No: None. Absent: Councilmembers Jeffrey and Olson. <br /> <br />I~'urther discussion: Mayor Gamec inquired about the schedule for the demolition of the <br />Amoco ()il Station. Economic Development/TIF Specialist Sullivan replied the demolition will <br />likely be tiao week of November 7th. <br /> <br />Case #10: Acquisition of 14165 Ramsey Boulevard NW <br /> <br />City Administrator Norman reviewed that staff has been directed by the EDA to facilitate <br />cl~velopment and redevelopment activity and to acquire properties in the City's Development <br />District No. 1 as willing sellers put their properties on the market. Staffhas discussed the market <br />valuo of this parcel with a local real estate firm and it was determined that the price should be <br />$800,000. No official appraisal has been completed. The asking price is $1,120,000 and a <br />p'm'chase agreement for that amount has been negotiated with Fisher Enterprises, Inc. Fisher <br />Enterprises has an outstanding purchase agreement with the Fee Owners, which is to close in <br />April, 2006. Acquisition of this property would be funded through TIF bonding. Staff has <br />advised l:ishcr Enterprises, Inc. of possible relocation qualification and benefits. It is the <br />position of staff that there is no relocation due to the open market sale and the willing seller. <br />Fisher I.;ntcrprises, Inc. has agreed to waive any relocation; however no contact with the Fee <br /> <br />City Council / October 25, 2005 <br /> Page 16 of 22 <br /> <br /> <br />