BY COUNCILOR STOVER:
RESOLVED, that the proper city officials are hereby authorized to enter into an agreement, a copy of which is on file in the office of the city clerk as Public Document No. ___________, with the Soo Line Railroad Company, doing business as the Canadian Pacific Railway, for the purchase of approximately 135,000 square feet of property on Rice’s Point for the construction of Helberg Drive, said property being legally described therein, in the amount of $71,445.60, payable from the Fund 411, Organization 035, Object 5530, Project PI0103TR.
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize an agreement to purchase certain property on Rice’s Point from the Soo Line Railroad, a/k/a the Canadian Pacific, needed for the construction of Helberg Drive, the new access road being constructed to provide a second access from Garfield Avenue to Port Terminal.
Pursuant to the agreement, the Soo Line will be deeding to the city approximately 135,000 square feet of property between Garfield Avenue and the St. Louis Bay Estuary running from near the new public works and utilities building to the northwesterly portion of the Port Terminal facility. The city will be paying approximately $.80/square foot for most of the property, but will not be paying for approximately 30,000 square foot of the property for which Soo Line cannot establish clear title. As is normally the case in acquiring property from railroad interests, the city will be required to indemnify them from all liability, including environmental liability, but a review by staff leads them to believe that the problems with the property should be minimal or nonexistent.