BY COUNCILOR STENBERG:01-0766R
RESOLUTION AUTHORIZING PURCHASE OF BRANDING IRON PROPERTY FROM ST. LOUIS COUNTY FOR $8,311.40.
RESOLVED, that the proper city officials are hereby authorized to purchase
the old Branding Iron property, said property being located in St. Louis
County, Minnesota, and being legally described below, from St. Louis County,
for the sum of $8,311.40, payable from Public Utility Bond Construction
Fund 0522, Agency 500, Object 5510: Lots 82 and 84 and the northerly
two inches of Lot 86, all in Block 40, PLAT OF RICES POINT.
The bar and restaurant were substantially destroyed by fire a number of years ago and the remaining portions of the structure were demolished. The property then was forfeited for non-payment of taxes and continues in that status today. The public works and utilities department has need of additional property for parking of both its own vehicles and to provide employee parking. In addition, there is a need for additional materials storage to serve the main facility. The property itself consists of approximately 6,000 square feet of property.
The county has appraised the property at $8,000. In addition, there are costs such as the deed tax, recording fees and the assurance fee which brings the total purchase price to $8,311.40. A disbursement fund has been created to receive bond proceeds in the event the city council approves going forward with construction bonds for the Garfield utilities center. In the meantime, funding for the property purchase will be transferred from the stormwater utility to be reimbursed at a later date.