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<br />Page 4 - June 14, 2005 New Brighton Council Minutes <br /> <br />2. Consideration of amendment to redevelopment contract with Dominium, Inc. <br />to pennit conversion of Main Street Village Apartments to condominiums. <br />Report No. 05-133. Resolution No. 05-053 <br /> <br />I <br /> <br />David Black, Assistant Community Development Director, gave an overview of <br />the proposal. <br />COlll1cil Member Doffmg questioned the thought process behind the conversion. <br />Len Pratt of Pratt Ordway explained that there has been some interest from <br />current renters to own, also Mr. Pratt explained that some renters are vacating in <br />order to purchase elsewhere. <br />The City Manager inquired as to the price range of the condominiums, Brent <br />Rogers of Dominium, Inc. stated that studios would start at approximately <br />$120,000.00 and three bedroom could be $299,000.00, with an average price of <br />$175,000.00 <br /> <br />Motion by Council Member Doffing, seconded by Council Member Burg to <br />Waive the reading and approve the attached resolution authorizing execution of a <br />Second Amendment to the Contract for Private Redevelopment between the City and <br />Mainstreet Village, LLC <br /> <br />5 Ayes - 0 Nays, Motion Carried. <br /> <br />I <br /> <br />Consider purchase of RedijVolt Surge Protection System. Report No. 05-134 <br />(*puZledfrom Agenda) <br /> <br />4. Consider Purchase Agreement with Marvin Winkels for Acquisition of Real <br />Estate at 715 Old Highway 8 (Marv's Transmission). Report 05-135 <br /> <br />Grant Fernelius, Director of Community Development, indicated that the City was <br />approached by Marvin Winkels to purchase Marv's Transmission. The site is zoned <br />B2, Neighborhood Business, which does not pennit Automotive facilities. <br />The appraised value of the property is $255,000.00; the asking price of the property <br />is $350,000.00, which includes the Real EstateValue, Invento:ry, and business <br />value. <br />Mr. Femelius offered some preliminary analysis for redevelopment concepts, stating <br />that rezoning should be considered at a future time. The buildable area would be <br />approximately 7800 square feet. <br />Council Member Doffing inquired as to the feasibility of acquiring the property <br />without using tax increment fmancing; Mr. Fernelius stated that would be unlikely. <br />Cormcil Member Moore-Sykes stated her apprehension about purchase, given <br />earlier Cormcil action on a similar situation. <br /> <br />.JI"otion by Council Member Hoffman, seconded by Council Member Burg to approve <br />..lpurchase agreement with Marvin Winkels for the property located at 715 Old <br />Highway 8 in the amount of $350,000, subject to completion of a Phase 1 <br />environmental assessment within 30 days. If the environmental report reveals any <br />serious contamination issues, the City Council reserves the right to cancel the <br />agreement and re-coup any earnest money paid. <br /> <br />2. Consideration of <br />to redevelopment <br />tract with Dominium, Inc. <br />permit conversion of Main <br />Village Apartments to <br />. Report No. <br />5-133. Resolution No. 05- <br /> <br /> <br />. Consider purchm:e of <br />- /Volt Surge Protection <br />Report No. 05-134- <br />Pulled from agenda.) <br /> <br />