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CASE # <br />NW METRO CORRIDOR PROPERTY ACQUISITION <br />By: James E. Norman, City Administrator <br />Background: <br />The City has been discussing the acquisition of the Boike property as a critical piece to the <br />Northwest River Crossing, south of T.H. #10. The acquisition would be a joint powers <br />agreement with Anoka County and would require creative financing because funding would not <br />be available at this time. <br />The City Council has discussed the acquisition of the property since the spring of this year, <br />however, has not been able to resolve the matter. During a meeting held in the fall, the Finance <br />Committee directed staff to contact the Minnesota Department of Transportation (MnDOT) to <br />determine qualification for whether the State would provide a financial commitment if the <br />property was acquired by a public jurisdiction. <br />The City recently received a letter from MnDOT that provides assurance that the property would <br />be eligible for reimbursement at some time in the future (letter attached). <br />Council Action: <br />Motion to authorize execution of a purchase agreement for acquisition of the Boike property and <br />authorization to execute a Joint Powers Agreement with Anoka County for cost sharing of the <br />acquisition of the Boike property. <br />Reviewed by: <br />City Administrator <br />Finance Officer <br />CC: 12/21/06 <br />