BY COUNCILOR STOVER:
RESOLVED, that the city of Duluth has identified certain property as being surplus to the city’s future needs, and hereby declares its intention to alienate its interest in Lots 24, 26, and 28, Block 128, DULUTH PROPER THIRD DIVISION; and authorizes the proper city officers to take those steps necessary to combine said property with adjoining state of Minnesota tax forfeit property; and authorize the St. Louis County land department to sell said property to the highest responsible bidder at public auction on October 12, 2006, or as soon thereafter as possible should the auction be postponed or continued. Minimum acceptable bid shall be $20,757 for the city-owned portion of this parcel.
STATEMENT OF PURPOSE: The above referenced property is near the intersection of Mesaba Avenue and Central Entrance. After staff review, this property is considered surplus to the city’s future needs and can be sold. The St. Louis County land department has agreed to combine the city property with an adjoining tax forfeit parcel and sell this combined parcel at public auction on October 12, 2006. The land department staff has assigned a value of $1.75/sq ft. The value of the total parcels is $31,450 with the city’s portion (11,824.11 square feet) being valued at $20,757. The city assessor has reviewed the county’s land appraisal and agrees with it. The county allows land purchasers the option of purchasing property with ten percent down plus three percent assurance fee followed by up to ten annual payments plus interest. In exchange for the county’s land sale administration services, and if the purchaser chooses to pay over time, the city will invoice St. Louis County on an annual basis and forego any interest on its portion of the land sale price in exchange for the county’s services.