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City Council Regular
Meeting Date: 02/05/2019  
Subject:    Hold Public Hearing and Ordinance Introduction, Sale of Residential Lot, 100xx Cottonwood St.
From: Matt Brown, Economic Development Coordinator

The Council is asked to introduce an ordinance authorizing the sale of a single-family lot at 100xx Cottonwood Street.
The land at the southwest corner of 101st Avenue and Cottonwood Street was initially acquired by the City in the 1980s as part of a street improvement project along 101st Avenue. More recently, City Staff determined that the land would not be needed for street purposes in the future and that a sufficient amount of land exists for a buildable single-family lot. In early 2018, the City Council approved a plat for Minnesota Park 3rd Addition, which created the new lot, as well as a smaller parcel that was conveyed to a neighboring property owner. Water and sewer services were established for the lot in conjunction with the reconstruction of Cottonwood Street in 2018. The lot was marketed on the City's web site and Tollberg Homes offered $55,000, which Staff believes reflects current market value. The buyer proposes to construct a house that generally meets the HRA’s established design criteria. 

The Council is asked to introduce an ordinance authorizing conveyance of the property. The City's Charter requires an ordinance for any land sale. The Council will consider adoption of the ordinance, along with execution of a Purchase and Redevelopment Agreement, at its February 19 meeting.
Staff recommends that the Council:
  1. Conduct a public hearing.
  2. Introduce the ordinance authorizing conveyance of the property at 100xx Cottonwood St. to Tollberg Homes, LLC for $55,000.

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