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2002-058 CITY OF HOPKINS Hennepin County, Minnesota RESOLUTION No. 2002-58 RESOLUTION APPROVING THE RECONVEYANCE OF CITY-OWNED PROPERTY TO THE STATE OF MINNESOTA AND THE REPURCHASE OF SAID CITY -OWNED PROPERTY WHEREAS, the City of Hopkins presently owns the following described property: South 2 feet of Lot 7, Block 3 , West Minneapolis WHEREAS, the above described property was conveyed to the City of Hopkins on July 23, 1979, from the State of Minnesota by a Deed of Conveyance of Forfeited Lands, with the restriction that it be used for public parking purposes and reserving a right of reverter to the State of Minnesota. Such property is presently used for public parking purposes. WHEREAS, the restriction and right of reverter reserved by the State of Minnesota cannot be removed except through a reconveyance of the property back to the State of Minnesota and then a subsequent purchase of the property by the City of Hopkins. WHEREAS, the Hopkins Housing and Redevelopment Authority is in the process of redeveloping the area surrounding the above described parcel, and inclusion of said propeliy in the redevelopment would , facilitate the redevelopment project known as the Marketplace Lofts project. WHEREAS, the above described property is no longer needed for public parking purposes and would better serve the public good to be utilized in conjunction with said redevelopment project. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Hopkins, Minnesota, that the above referenced property be reconveyed to the State of Minnesota and thereafter repurchased for a purchase price not to exceed $500.00 for the following reasons: a. to remove the public parking use restriction from the property b. to extinguish the State's right of reverter to the property. c. to transfer title to the property to the Hopkins HRA so the property may be included in the Marketplace Lofts Redevelopment Project. NOW THEREFORE IT IS RESOLVED that the Mayor and City Clerk for the City of Hopkins are authorized and directed to sign the Reconveyance Deed conveying the above described property to the State of Minnesota so said property can be reconveyed to the City for a purchase price not to exceed $500.00 free from such restriction and right of reverter. Adopted this )g(b day of \Ttl.. r'}(J--- , 2002. ~/~ c:hopkins,civil\lot 1 QQ,ccresolution