Item Coversheet

10.A.6.


Shakopee City Council
April 3, 2018

FROM:Michael Kerski, Director of Planning and Development
TO:Mayor and Council Members
Subject:
Transfer from the City the rights to purchase Doggie Doo's and assigns the rights to their new lease to the EDA.
Policy/Action Requested:
Adopt Resolution No. R2018-041 to assign the City's Purchase Agreement and Lease Agreement to the EDA
Recommendation:
Adopt Resolution No. R2018-041 to assign the City's Purchase Agreement and Lease Agreement to the EDA
Discussion:

As mentioned in an earlier report, the city was the original approval body for the property acquisition of Doggie Doo's site along with their lease.

 

This Resolution assigns those rights to the EDA.  The city should not be owning this property nor managing it. The property will be closed this week in the EDA's name and the owners of Doggie Doo's will be signing a new lease in the name of the EDA at the closing.

 

In the future all property transactions will be in the EDA's name.  In May, the city will be cleaning up the HRA property ownership and transferring any of those properties into the HRA.

Budget Impact:
ATTACHMENTS:
Description
Resolution No. R2018-041
Assignment and Assumption Agreement