4.4. SR 11-19-2012REQUEST FOR ACTION
TO
ITEM NUMBER
City Council
4.4
AGENDA SECTION
MEETING DATE
PREPARED BY
Consent
November 19, 2012
Cal Portner, City Administrator
ITEM DESCRIPTION
REVIEWED By
Approve Bailey Point Purchase
REVIEWED BY
ACTION REQUESTED
Approve by motion the purchase of the Bailey Point Property.
BACKGROUND /DISCUSSION
All parties have concluded discussions and are ready to close on the purchase of Bailey Point from John
and Nancy Babcock.
At the November 5, 2012, regular meeting, the City Council approved the execution of the purchase
agreement, easement, and access agreement.
The DNR grant requires the property be open to the public within one year of the purchase and to be
properly signed for public use. The Park and Recreation Department has budgeted funding for 2013 to
ensure the park is open as a passive use public park within the required parameters.
FINANCIAL IMPACT
The total negotiated purchase price includes funding from the Minnesota Land Trust for the overlay of a
conservation easement, and $99,150 plus closing costs from the city, of which $39,000 will be reimbursed
in the form of a grant from the DNR. The city portion includes $20,592 of mitigation reserve required
for the development of the Boys and Girls Club building, which must be repaid to receive the grant. The
remaining city funding will be paid from the GRE Reserve Fund.
ATTACHMENTS
■ N/A
Action Motion by Second by Vote
Follow Up
RwERER iE r
N: \Public Bodies \City Council\Council RCA \Agenda Packet \11 -19- 2012 \Bailey Point Purchase.docx
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