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CR 90-196 Sale Of Property 11th Ave410 September 11, 1990 SALE OF PROPERTY AT 11TH AVENUE & COUNTY #3 BY THE CITY TO THE HRA • Aupm ing in.mation o Location map of the site an Fr a ng Economic Development Specialist K J Staff reco?tmends adoption of the following motion: "Direct staff to r of Cit owne jroperty located on the SE corner of 1t mmug a.n i Bounty_ #3 wit: the HRA Boar" This process will allow the sale of this property to the HRA and will provide more opportunity to utilize it in any redevelopment of the area gYSINiaeNra The parcel of property on the southeast corner of County #3 and llth Avenue is currently owned by the City of Hopkins. This vacant parcel is approximately 105,471 square feet in size and located within the H-- 3 zoning districts The City Council, while approving the City Hall remodeling project, agreed that the land in question would be sold to assist in paying for the project. City staff is now requesting that this sale be undertaken and completed during the budget hearing process. The questions which need to be answered at this time are whether the City Council wants to sell the property and does the HRA want to purchase it. k e uuee _Io Vea lkaa r .. o What is the rational behind this proposed sale? o What is the Fair Market Value? o Are any easements needed on the property to accomplish City objectives? o What future steps are necessary to complete this sale? o What are the funding sources for the sale? Council Report:90-196 • Prima, Z3sut Te Consider: Based on the information above, the City Council has the following issues to consider: o What is the rational behind this proposed sale? The reason why the property is proposed to be sold is that as a part of the City Hall remodeling project, the City Council agreed that the land in question would be sold to assist in paying for the project, This property is intended to be sold to the HRA. The HRA is the appropriate owner for several reasons: - The HRA is the appointed authority for future development within the City. As such, the HRA has more legal ability to deal with the property. •- As a representative of the City, the HRA can control the development of the parcel. Whereas if the property were sold to a private developer, the City would have less input into what occurs on the sits. o What is the Fair Market Value? SALE OF PROPERTY CRp 90-196 Page 2 Staff is presently having an appraisal completed on the property to obtain the Fair Market Value. If the Council makes the decision to sell this property, the FMV will be available at the October HRA meeting, o Are any easements needed on the property to accomplish City objectives? Yes. Easements will have to he provided for future road improvements, water mains and water tower i'r provements. The exact procedures on securing these easements has not yet been determined. o Whet future steps are necessary to complete this sale? If the motion is made to sell this property, there are still several steps which need to be completed prior to this sale being finalized. They are as follows: 1. Draft a resoletion authorizing the HRA to purchase the property. 2. Drafting Easements the City wishes to retain at this time. 3. Determinitian of the FMV. 4. Deteraainition if the HRA desires to purchase the property. S. Determining the specific time of purchase. 6. Review disposition with Public Works and engineering • SALE OF PROPERTY CR: 90-°196 Page 3 o What are the funding rources for the sale? It is anticipated that :some combination of Tax increment Financing will be used for this purchase. The final sale terms will be structured after receiving council approval to conduct this sale. Based on the information provided above, the City Council has the following alternatives to consider, 1. Move to direct staff to review the purchase of City owned property located in the SE corner of llth Avenue and County Road #3 with the HRA Board. 2. Direct staff to provide further information on this item. 3. Direct staff to take no further action on this item at this time. • CHAPTER V 1. PURPOSE 1.01 The City of Hopkins owns various items of personal property or parcels of real property which may be surplus to operating needs. 2. PERSONAL PROPERTY POLICY 2.01 Disposal of personal property is covered in Section 305 of the Hopkins City Code, 3. REAL PROPERTY. 3.01 A resolution declaring property to be surplus shall be approved by the City Council. Prior to this action, the City Council shag direct the staff to undertake the following: 1. Notify HRA. and Park Board of the availability of the property. 2. Review with the Zoning and Planning Commission to determine if the disposition complies with the Comprehensive Han. 3.02 The sate tzf land shall be wade available at a price that shill take into consideration the estimated fair market value of the cleared land. However, the City Council, based upon the specific situation, shall have the right to ascepC an offer for more or less than the fair market value. 3.03 The City Council shall have the irbility to undertake a negotiated sale of land without public bidding, but onfy following a public hemming, and after published notice in the official newspaper ai least once, and not l *4;1 clays nor more than 30 dayti prior to the dace of the hearing. 3.04 When the public bidding prows is followed in the sale of property, a notio shall be placid in the official newspap at least owe providing s. minimum 30 day period for submission of bids. 3.05 The City Countil is authorized to establish any guidelines and specifications determined appropriate to govern the sale and development of surplus property. 3.01 When the. public bidding pro.ss is followed,. the City Council has the right to award the safe of surplus property based upon the highes1 r4sponsible bid which complies with any estabti54ed guidelinee4 and spedfications. The City Coand sail have the right to reject any or all bids. POLICY # 5. -A SALE OF PROPERTY 3. me _ Counc t is authori to si ll ot donate surplus property to the Hopkins Rowing and - - -�°` Re vela ent Authority to facilitate redentopmest activities.. 3.08 The City Attorney shalt draft legal documents and eoordhlate the consunimatioa of the sale of surplus property. Egabillattoti Q /1j%7 Revised 8/1,84 Ow or Hopkifis :e 1 ,,. 5 0 i1, ,,.7 - H t 1 f&famrlt , 5; - _'K+^n . i:aa ., +sc -r- .. ,. 17754 P i •A .4I 95,6`3 , ----_,,s,- ., s a..: s ' .17„,.. f' D cc e4 2 ' I F' r 'h 1- ` 0 . �. _,. r H '' ,=, • , : y ; �. ,. y , ! F ', \ ;i \ , • z. so.