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AGENDA ITEM #10.1 <br /> City of <br /> Pequot <br /> Lakes � -_ <br /> REPORT TO CITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: October 1, 2019 <br /> Subiect: Purchase Agreement for Pequot Lakes Industrial Park Lot 1, Block 2 <br /> Report: At the August 6t'' City Council Meeting, the Council authorized me to <br /> negotiate and draft documents for the sale of Pequot Lakes Industrial Park Lot 1, <br /> Block 2 with prospective buyer, Joe Dotty of Dotty Holdings LLP. Mr. Dotty and <br /> I have agreed to the terms as outlined in the attached purchase agreement which <br /> was drafted by the City Attorney. <br /> At the September 17t'' Economic Development Commission Meeting, the EDC <br /> recommended the Council move forward with the purchase agreement with Dotty <br /> Holdings LLP contingent on an acceptable site plan reviewed and approved by the <br /> City Administrator. I have reviewed the site plan included in the purchase <br /> agreement as Exhibit C and deemed it acceptable. The City Planner has also <br /> reviewed the preliminary site plan and has no concerns. <br /> Attached is a resolution, for Council consideration, approving the sale of this City- <br /> owned real property and dispensing with review of the sale by the Pequot Lakes <br /> Planning Commission. <br /> Council Action Requested: <br /> 1. Council motion adopting the resolution approving the sale of City-owned <br /> property described as Lot 1, Block 2, Pequot Lakes Industrial Park to Dotty <br /> Holdings LLP for the purchase price of$55,500 and dispensing with review <br /> of the sale by the Pequot Lakes Planning Commission. <br /> 2. Council motion to initiate a zoning map amendment to rezone Lot l, Block <br /> 2, Pequot Lakes Industrial Park from Public to Light Industrial. <br />