HomeMy WebLinkAbout4.a.1. Report on Negotiation for Wachter Property CITY OF ROSEMOUNT � � \
EXECUTIVE SUMMARY FOR ACTION �: �
PORT AUTHORITY MEETZNG DATE: MARCH 15, 1994
AGENDA ITEM: REPORT ON NEGOTIATIONS FOR AGENDA SECTION:
WACHTER PROPERTY OLD BUSINESS
PREPARED BY: JOHN MILLER, AGENDA NO.
ECONOMIC DEVELOPMENT COORDINATOR 4 . A. 1.
ATTACHI�iENTS: NONE AP VED Y: �G�'�
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At the March 2 port authority meeting the board directed Mr. Miles and me
to begin negotiations for the purchase of the Harold Wachter property
adjacent to the land currently known as phase one of the Rosemount Business
Park.
Mr. Miles and, I will be meeting with Mr. and Mrs. Wachter on the afternoon
of March 15 just prior to the port authority meeting. We will be able to
give the members an oral report at the meeting. In the meantime, Dan
0'Neil from Springsted, Inc. , is providing Mr. Miles with some options for
financing the purchase. These will also be discussed with the board.
The importance of the purchase is related to the "small lot option" for the
development of the western part of the business park. If the land is not
available, that optian disappears as does the immediate need for the
$410, 000 cul-de-sac road.
RECODIl�lENDED ACTION: Discussion item only.
PORT AUTHORITY ACTION: