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1986-50CITY OF HOPKINS Hennepin County, Minnesota RESOLUTION NO. 86- 50 RESOLUTION APPROVING THE DISPOSITION OF CITY -OWNED PROPERTY WHEREAS, the City of Hopkins presently owns the following described property: That part of the abandoned Great Northern Railroad right-of-way in sections 24-117-22, 25-117-22 lying east of the following described line: Commencing at the Northwest corner of Northeast Quarter of the Northwest Quarter of Section 25, Township 117, Range 22; thence run Northwesterly at an angle of 90 degrees, 18' 22" with the North line of said Section for a distance of 49.9 feet; thence deflect 90 degrees right for a distance of 668.08 feet; thence deflect right at an angle of 90 degrees, 26' 06" a distance of 239.0 feet along a line herein after referred to as Line "A";thence deflect left at an angle of 90 degrees for a distance of 45 feet to a point hereinafter referred to as point "A"; thence deflect right 92 degrees, 51' 45" to the South line of the above described tract being the actual point of beginning of the line being described; thence run Northerly to said Point "A" thence continue Northerly parallel with said Line "A" for a distance of 109.02 feet; thence deflect right along a tangential curve having a radius of 90.0 feet (delta angle 90 degrees, 26' 06") and there terminating; and Westerly of the following described line: From the South Quarter corner of said Section 24, run easterly on the South line of said Section 24 ® for 330 feet; thence deflect to the left at an angle of 108 degrees 00 minutes 00 seconds for 150 feet to the point beginning of Line 1 to be described; thence run Southeasterly on the last described course for 200 feet and there terminating. WHEREAS, the Hopkins Housing and Redevelopment Authority is in the process of redeveloping the area surrounding the above described parcel, and acquistion of said property would facilitate the redevelopment effort. r, 4 H C] WHEREAS, the above described property is no longer needed for public purposes and would better serve the public good to be utilized in conjunction with the redevelopment effort by the Hopkins Housing & Redevelopment Authority in the area. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Hopkins that the above described property is declared to be surplus property. NOW THEREFORE BE IT FURTHER RESOLVED that the Hopkins Housing and Redevelopment Authority shall have the option to purchase said property for $1 and other valuable consideration conditioned on compliance with the following requirements. a). All proceeds from the sale of said property are returned to the City of Hopkins. b). The property is developed in accordance with an approved redevelopment plan. c) All leases are terminated prior to transfer. Adopted this -'19th day AdiI]st._ 1986. J. Scott Renne, City Clerk Ellen Lavin, Mayor